The upcoming Supreme Court decision on tariffs, expected Friday, could introduce significant volatility to cryptocurrency markets. Analysts, including Dan Gambardello, warn that a ruling against the tariffs, which could lead to a $133 billion refund, might impact Bitcoin prices, potentially testing support levels between $86,000 and $83,000. This decision coincides with the release of unemployment data, creating dual catalysts for market movement.
Bitcoin previously experienced a 10% drop during tariff announcements in April, and similar volatility is anticipated. Analysts suggest that if the tariffs are struck down, markets might react positively, but the uncertainty remains high. Ethereum's technical indicators also suggest potential volatility, with its 20-week moving average nearing the 50-week, a pattern seen in past market shifts. The macroeconomic environment, however, differs from previous bear markets, suggesting a potential setup for a bull move rather than a prolonged downturn.
Supreme Court Tariff Ruling May Trigger Crypto Market Volatility
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
