Bitcoin Faces $110,348 Resistance Amid 50% Copper Tariff, Fed Uncertainty

Bitcoin (BTC) is currently facing a critical resistance level at $110,348, as the cryptocurrency market grapples with uncertainties stemming from potential trade tariffs and Federal Reserve policy decisions. The US Secretary of Commerce has announced a potential copper tariff policy starting August 1st, with rates possibly reaching 50%. This move is aimed at encouraging manufacturing reshoring amidst rising global trade tensions, which have been further intensified by the EU’s recent market liberalization proposals.

Concurrently, the Trump administration’s chief advisor has criticized Federal Reserve Chairman Powell, highlighting growing concerns over monetary policy. The advisor emphasized the risks if interest rates remain unchanged past July 29th, which could increase market volatility. These uncertainties in both trade and monetary policies are contributing to the current volatile environment for BTC.

From a technical perspective, BTC faces significant resistance near $110,348, while liquidity analysis reveals crucial support around $107,000. Failure to maintain this support level could prompt a decline towards the $102,560 demand zone, signaling increased downside risk. Market participants should closely monitor these thresholds to adjust their strategies accordingly.

Given the prevailing uncertainties, a cautious approach is recommended. Maintaining BTC positions within the $106,000–$107,000 support range may present opportunities to test resistance levels again. However, a breach below $106,000 warrants vigilance for potential further declines. Proper risk management and disciplined trading remain essential to navigate the current volatile environment.