Bitcoin (BTCUSD) experienced volatile trading patterns following the Wall Street market open on Friday, reacting to significant news from the US Supreme Court regarding President Donald Trump’s trade tariffs.
The Supreme Court ruled on certain tariffs associated with the International Emergency Economic Powers Act (IEEPA), deeming that these tariffs lacked legal justification. The decision prompted a moderate response from risk assets, although the overall effect on markets was relatively muted as the ruling confirmed that other tariffs remained intact. The implications of the ruling raised questions among market participants about potential tariff refunds, with estimates suggesting that this could total $150 billion, according to trading resource The Kobeissi Letter.
In a broader context, the reaction to the Supreme Court’s decision was overshadowed by US macroeconomic data that fell short of expectations. The Personal Consumption Expenditures (PCE) Index, closely watched by the Federal Reserve, registered its highest inflation rate since late 2023 at 3%. Meanwhile, the GDP growth figure for Q4 2025 was disappointingly low, reported at 1.4% compared to a forecasted 3%. These revelations diminished hopes for an interest rate cut at the Fed’s upcoming March meeting. Current market analysis suggests that there is only a 4% chance of a 0.25% reduction.
Despite the gloomy outlook on interest rates, some market analysts expressed optimism regarding stock performance. Mosaic Asset Company noted that even in the absence of rate cuts, financial conditions remain more favorable than average, potentially supporting a bull market in the near term.
As Bitcoin traders gauged the market’s sentiment, many recognized the prevailing bearish trend. Analyst Jelle emphasized that bears were firmly in control, suggesting that traders should embrace current opportunities to acquire Bitcoin at lower prices. Rekt Capital pointed out the critical nature of the 200-week exponential moving average (EMA), indicating that a close below this level could trigger further bearish movement.
Market expert Skew described the Bitcoin price range, noting significant resistance around $70,000 and demand near $65,000. He highlighted that a sustained movement beyond these thresholds could lead to more decisive price trends. With the current trajectory leaning downwards, the $72,000 mark has become crucial, where many short sellers may place stop-loss orders.
Overall, the combination of regulatory changes, economic data, and market sentiment is creating a complex landscape for Bitcoin and other risk assets, leaving traders to navigate carefully in these uncertain conditions.
