Bitcoin’s price surged above $109,000 following the US President Donald Trump’s decision to delay a proposed 50% tariff on EU goods. This move eased trade tensions and boosted risk assets like Bitcoin. The rally follows a previous dip triggered by potential tariffs that could have negatively impacted the market. As per Cointelegraph Markets Pro and TradingView, Bitcoin (BTC) reached its intraday high of $110,100 on May 26 after a brief drop to $106,660 on May 25. This positive reaction to the tariff delay was attributed to optimism surrounding renewed trade relations between the US and EU. The decision follows Trump’s initial proposal of a 20% tariff on most EU imports, which later reduced to 10%, then escalated to 50% in June if talks were not successful. As per Cointelegraph reports, this delay has allowed Bitcoin to bounce back from its recent dip and continues its upward trajectory. Experts like Random Crypto Pal and Kevin T believe this positive momentum could lead to further price increases for Bitcoin. A potential eight-week win streak on the charts further strengthens the bullish outlook. The current trend suggests a possibility of breaking through resistance levels, potentially pushing Bitcoin’s price towards new all-time highs exceeding $130,000 if the bulls remain strong. However, key support levels need to be considered. Traders highlight potential resistance at the previous all-time high of $111,900 and a demand zone between $104,500 and $106,000 before any significant drop could occur. With this in mind, analysts are keeping a close watch on price movements to navigate these critical levels. It is important to remember that Bitcoin investments carry inherent risk, and readers should conduct thorough research before making investment decisions.