Bitcoin price clings to $90K as traders eye US Supreme Court tariff ruling
Bitcoin traders avoided taking positions amid sideways BTC price action, while markets waited for a decision on US trade tariffs by the Supreme Court.Bitcoin (BTC) hovered at $90,000 around Friday’s Wall Street open as markets braced for US trade tariff news.Key points:RIsk-asset traders await news over US trade tariffs, as bets see the Supreme Court striking down the measures.US unemployment data misses expectations, with the Federal Reserve seen holding rates this month.Bitcoin traders demand clearer signals to end the rangebound price deadlock.US tariff ruling could come FridayData from TradingView showed indecisive BTC price action ahead of a potential Supreme Court ruling over the tariffs, known as a risk-asset volatility catalyst. BTC/USD one-hour chart. Source: Cointelegraph/TradingViewCommenting, trading resource The Kobeissi Letter noted that bets favored President Donald Trump’s trade measures being ruled illegal.
“The decision could reshape trade policy and ripple across global markets, including crypto,” crypto education platform Coin Bureau added in a post on X.The forthcoming news meant that US unemployment data, which came in lower than expected, took a backseat.As Cointelegraph reported, the Federal Reserve was already expected to hold interest rates at current levels at its January meeting.“The Fed is set to pause interest rate cuts,” Kobeissi confirmed on the back of the data. Fed target rate probabilities for Jan. 28 FOMC meeting (screenshot). Source: CME Group FedWatch ToolBitcoin price inertia keeps traders awayAmong traders, BTC/USD remained a “no trade” pair amid a lack of a clear trend.Related: Bitcoin RSI hints at $105K BTC price rebound as bull signals multiply“Still ranging as has been the case for the past ~2 months. I am not interested in trying to trade the next 5% move on this at all,” Daan Crypto Trades told X followers on the day. “Just chilling until the start of the year chop is over and we see a decisive breakout to either side.” BTC/USDT perpetual contract four-hour chart. Source: Daan Crypto Trades/XAn accompanying chart showed price interacted with its 200-period moving average (MA) cloud on four-hour timeframes.Trading account Deadline flagged $88,000 and $92,000 as key points of interest while referencing an unfilled “gap” in CME Group’s Bitcoin futures market from the new year.
Little tricky market circumstances here, as Bitcoin is correcting again,” crypto trader, analyst and entrepreneur Michaël van de Poppe added.“However, holding the 21-Day MA would be great, as that would prevent a further cascade.” BTC/USD one-day chart with RSI, volume data. Source: Michaël van de Poppe/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
