US Supreme Court Tariff Ruling Steals The Spotlight as Bitcoin Holds Near $67,000
Wall Street digests a 170‑page Supreme Court opinion that declared portions of the Trump‑era tariff regime unlawful. The decision sparked a modest risk‑asset response, but Bitcoin remained confined to a narrow range around $67,000, with technical indicators suggesting bearish dominance.
Supreme Court’s Decision on Trump Tariffs
On Friday the U.S. Supreme Court issued a landmark ruling that a segment of the tariffs imposed under the International Emergency Economic Powers Act (IEEPA) exceeded the President’s statutory authority. The Court’s 170‑page opinion concluded that “IEEPA does not authorize the President to impose tariffs,” rendering many of the measures enacted during the Trump administration illegal.
The judgment was not absolute; the Court left several other tariffs untouched, which muted the broader market reaction. Nevertheless, the ruling has already ignited speculation about potential tariff refunds that could total as much as $150 billion, according to market commentator The Kobeissi Letter.
Market Reaction and Macro Context
U.S. equity markets opened higher on Friday, buoyed by the news that a portion of the trade restrictions had been struck down. At the same time, fresh macro data dampened expectations for a near‑term Federal Reserve rate cut:
- Personal Consumption Expenditures (PCE) Index – The Fed’s preferred inflation gauge rose to 3 % in the latest month, its highest reading since late‑2023.
- Q4 2025 GDP – Growth slowed to 1.4 % year‑over‑year, well below the 3 % consensus forecast.
These figures pushed the probability of a 0.25 % rate reduction at the March FOMC meeting, as measured by the CME FedWatch Tool, down to roughly 4 %. Mosaic Asset Company, however, noted that despite a “gloomy rates outlook,” financial conditions remain relatively accommodative, which could continue to provide a tailwind for risk assets.
Bitcoin Price Action
Bitcoin (BTC) traded within a tight band centered on the $67,000 level throughout the session. The cryptocurrency’s one‑hour chart on TradingView showed the price oscillating between roughly $65,500 and $68,200, with no clear breakout direction.
Technical analysts highlighted several points:
- Bearish Control – Crypto‑focused trader “Jelle” reiterated that bears were still in command, urging traders to accept the downtrend and consider buying on dips.
- 200‑Week EMA – Analyst Rekt Capital warned that Bitcoin is hovering near its 200‑week exponential moving average (EMA). A close below this long‑term trend line could convert the EMA from support to resistance, potentially accelerating a bearish move.
- Supply‑Demand Zones – Commentator Skew identified a clear supply cluster around $70,000 and a demand cluster near $65,000. He suggested that a decisive move above $70,000 or below $65,000 would likely trigger a new directional phase.
Overall, the consensus among on‑chain and chart analysts was that the current range reflects a “developing value” zone, but the prevailing price pressure remains downward.
Key Takeaways
| Insight | Implication |
|---|---|
| Supreme Court ruling – Parts of the Trump tariffs declared illegal, but many tariffs remain in effect. | Limited immediate stimulus for risk assets; market focus shifts to potential refund calculations. |
| Macro data – PCE at 3 % and Q4 GDP at 1.4 % reduce odds of a March Fed rate cut. | Higher‑for‑longer rate environment may keep pressure on growth‑sensitive assets, including crypto. |
| Bitcoin price – Holding near $67,000 within a narrow $65‑70 k band. | Technical indicators suggest bears are still dominant; breakout direction remains uncertain. |
| 200‑week EMA – Close to this long‑term trend line. | A breach below could turn a support level into resistance, heightening downside risk. |
| Supply‑demand zones – $70k (supply) and $65k (demand) act as near‑term inflection points. | A clear move beyond either threshold could trigger stronger trend momentum. |
Outlook
While the Supreme Court decision captured headlines and delivered a modest rally to equities, its effect on the broader risk‑asset landscape was restrained. Bitcoin’s price action remains largely unchanged, trapped in a range where technical signals point to continued bearish influence. Traders should watch for a decisive break above $70,000 or below $65,000, as well as the reaction of the 200‑week EMA, to gauge the next phase of market direction.
The information presented herein is for informational purposes only and does not constitute investment advice. Readers should perform their own due diligence before making any trading decisions.
Source: https://cointelegraph.com/news/bitcoin-ignores-us-supreme-court-trump-tariff-strike-amid-talk-of-150b-refund?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
