Bitcoin stabilized near $107,800 after its record-week reversal

Bitcoin stabilized near $107,800 on May 24, 2025 after a sharp reversal interrupted its record-setting week. Coinbase’s BTC-USD market opened the UTC session at $107,332.08 and closed at $107,794.01, a 0.43% increase calculated from the exchange’s reported observations.

The modest gain did not erase the preceding decline. Coinbase recorded a $112,000 high on May 22 and a $111,722.53 close. Bitcoin then fell 3.93% from open to close on May 23, ending that UTC session at $107,329.61. The May 24 close remained 3.52% below the May 22 close.

That sequence mattered because it showed bitcoin trading as a macro-sensitive risk asset immediately after reaching a new venue record. The May 24 session did not produce another breakout or extend the preceding day’s selloff. Instead, prices remained inside a narrower range while trading activity dropped substantially.

What the May 24 candle records

Coinbase’s 86,400-second BTC-USD candle for May 24 records a low of $106,895.77 and a high of $109,517.79. The $2,622.02 difference was equivalent to 2.44% of the opening price. The closing price was $464.40 above the May 23 close, while the May 24 low held $95.76 above the previous session’s low.

Coinbase reported 2,611.3560546 BTC of volume in the May 24 bucket, compared with 9,638.23489571 BTC on May 23. Coinburn calculates that as a 72.91% decline. This comparison concerns only the Coinbase BTC-USD product; it is not a measure of worldwide bitcoin volume.

Lower Saturday activity limits what can be inferred from the stabilization. A positive close with substantially lighter venue volume establishes that the immediate decline paused on Coinbase. It does not demonstrate broad institutional accumulation, establish a durable support level or predict how price would behave when traditional markets reopened.

The macro backdrop to the reversal

On May 23, President Donald Trump said he was recommending a 50% tariff on European Union goods beginning June 1, 2025. Contemporaneous Associated Press reporting documented declines in U.S. and European equities following the statement, while CNBC reported bitcoin falling below $108,000 during the same market episode.

The timing supplied a plausible macro backdrop for bitcoin’s reversal, but it did not prove that the tariff statement caused every trade. Position reductions, profit-taking after the record, derivatives liquidations and ordinary cross-venue flows could also have contributed. The verified conclusion is narrower: the tariff announcement, declines across risk markets and bitcoin’s pullback occurred during overlapping May 23 windows.

As of May 24, the proposed tariff was a presidential recommendation communicated through social media, not an implemented 50% levy. This reconstruction therefore does not project later negotiations or policy changes backward into the event-day account.

A venue-specific measurement

Cryptocurrency trades continuously without a consolidated global tape or official closing auction. Coinbase candles group trades by UTC interval, so their open, high, low, close and volume can differ from figures reported by another exchange, currency pair, index provider or time zone.

Coinbase also cautions that historical candle data may be incomplete when an interval contains no ticks. BTC-USD was actively traded during the cited sessions, but the methodological warning still applies. The defensible finding is that Coinbase BTC-USD stabilized on May 24 after the May 23 reversal—not that one price represented the entire global bitcoin market.