Bitcoin (CRYPTO: BTC) fell below $104,000 on Friday before president Donald Trump said high tariffs on China "will not stand," easing trade tensions but doing little to stop the market's decline.
Trump's Tariff Comments Fail To Rescue Bitcoin Price
Bitcoin stayed under pressure even after U.S. President Donald Trump said he believes the U.S. will "be fine with China" and answered "no" when asked if high tariffs would stand.
The remarks briefly eased concerns over renewed trade tensions but had little effect on market sentiment.
Traders said the reaction reflected persistent caution across risk assets, with crypto markets still weighed down by tightening liquidity and weak inflows.
The comments did not trigger a sustained rebound in Bitcoin trading volumes or price action.
Bitcoin Outflows Top $1.6 Billion As Liquidity Dries Up
BTC Netflows (Source: Coinglass)
Data from Coinglass shows that Bitcoin recorded more than $1.66 billion in cumulative outflows over the past five sessions, including $365 million on Oct. 17 alone.
The consistent withdrawals highlight continued portfolio de-risking by both institutional and retail participants.
The selling pressure has drained short-term liquidity, making the market more vulnerable to price swings.
Stabilization in exchange flows will be critical for any meaningful recovery attempt in the near term.
Bitcoin Chart Breakdown Raises Alarms On $100,000 Test
BTC Price Prediction (Source: TradingView)
Technical analysis: Bitcoin's daily chart confirms a breakdown below $108,000, where the 200-day exponential moving average (EMA) had previously acted as strong support.
The breach shifts focus toward $103,500 as the next short-term demand zone, while $100,000 remains the main psychological and structural support level.
Momentum readings also show continued weakness.
The RSI has dropped to 34, near oversold territory, while major moving averages have turned lower in alignment with the bearish trend.
Unless inflows stabilize, the next pivot could form closer to $100,000, with a deeper extension exposing $92,000 as the next major support area.
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