Bitcoin’s Fate Hangs in the Balance as Court Halts Trump Tariffs—What’s Next?
Bitcoin traders are eyeing the charts after a federal court blocked Trump-era tariffs, sparking speculation about a crypto rebound. Could this be the catalyst for BTC’s next rally—or just another false dawn for bagholders?
Market watchers are split: some see macro winds shifting in crypto’s favor, while others warn of more ’buy the rumor, sell the news’ action. After all, since when do courts care about your leveraged long?
One thing’s clear: in the casino of modern finance, Bitcoin remains the ultimate high-stakes table. Place your bets—just don’t expect Wall Street to play fair.
Bitcoin Price to Record a Bearish Reversal?
The largest cryptocurrency has displayed a strong bearish reversal after trading under a bullish sentiment for a brief period. Reportedly, the Bitcoin price has dropped approximately 2% in 24 hours and 5.50% over the last seven days. Moreover, with a monthly return of +11.09%, it has a market capitalization of $2.11 trillion.
The Moving Average Convergence Divergence (MACD) displays a constant rise in the red histogram. Moreover, the 12 & 26-day EMA records a negative crossover in the daily time frame, suggesting an increase in the bearish action for the largest cryptocurrency in the market.
The Simple Moving Average (SMA) is on the path of witnessing a bearish convergence in the Bitcoin price chart. This indicates a negative price action for it in the upcoming week.
Will Bitcoin Price Recover in June 2025?
On the other hand, if a bullish trend reversal occurs, this may result in the price of BTC token retesting its resistance level of $110,000. Maintaining the price around that level could set the stage for it to head toward its ATH of above the $112,000 mark in the coming time.
On the contrary, a sustained bearish action could result in it retesting its immediate support trendline of $105,000. Furthermore, if the bearish sentiment intensifies, the BTC price may plunge toward its $100,000 next month.
Also Read: Elon Musk’s Tesla to Buy $3 Billion in Bitcoin: Fact Check
