Bitcoin has fallen back under the $110,000 mark, trading at around $109,055 at press time after losing nearly 1% in the past 24 hours.
The leading cryptocurrency is down more than 9% over the past week, pressured by mounting uncertainty in U.S. politics and renewed bearish activity from large traders.
The pullback follows a volatile week for risk assets as Washington faces a renewed threat of a government shutdown. Lawmakers have yet to reach a deal to fund federal agencies, sparking concerns over broader market instability.
Investors are also on edge ahead of President Trump’s scheduled speech later today, which could include comments on fiscal spending and new tariffs against China.
Adding to the tension, blockchain data indicates that the same mysterious whale who famously opened massive short positions just hours before the 100% tariff announcement against China earlier this month has returned to the market — this time increasing short exposure again. Traders are speculating that insider knowledge or sophisticated macro positioning could be at play, heightening volatility across exchanges.
Technically, Bitcoin’s daily chart shows fading momentum, with RSI levels sliding toward neutral territory and the MACD signaling continued weakness. The $110,000 threshold, previously acting as support, now appears to be a key resistance level. Analysts warn that a decisive close below $109,000 could accelerate the downside toward $105,000 if broader market sentiment worsens.
Meanwhile, total 24-hour trading volume remains high at around $71.4 billion, suggesting heavy repositioning among both retail and institutional participants. Market watchers are closely monitoring Trump’s remarks for clues about potential policy shifts that could influence risk appetite across equities, commodities, and crypto.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/bitcoin-drops-below-110000-ahead-of-trump-speech/