Market Overview and Key Developments
The U.S. Supreme Court will not issue a decision on Trump's tariff issue this week, according to market sources. This absence of a ruling coincides with significant market movements, including Bitcoin reaching new highs, suggesting a potential diversion from anticipated regulatory developments.
Key points from the current market situation include:
- •No Supreme Court ruling on Trump's tariffs this week.
- •Bitcoin reaches new highs at $97,524.91.
- •$623 million in crypto liquidations reported.
Supreme Court Decision Delay Sparks Crypto Market Rally
The U.S. Supreme Court's decision to refrain from ruling on the tariffs related to Trump's policies has sparked considerable attention. Market sources indicate that no definitive ruling will occur this Wednesday. This delayed decision leaves unanswered questions about the future of U.S. trade policies.
Bitcoin continues its upward trend, reaching a price of $97,524.91, while Ethereum surpasses $3,300 amid an ongoing market upswing. Concurrently, crypto markets have experienced substantial liquidations, particularly targeting short positions, totaling $623 million across various platforms.
"The Ethereum C-wave decline began on October 10th. The overall downward trend was impeded around November 20th, and the fifth wave of decline failed by December 18th, indicating that the momentum of the trend has exhausted. We believe Ethereum has re-entered the fifth wave of the uptrend that began in April last year."
Crypto Surges Amid U.S. Tariff Policy Uncertainty
The cryptocurrency market's significant rally, coinciding with government and judicial uncertainty, is reminiscent of previous economic pivot points, demonstrating how market dynamics can change rapidly under shifting policy landscapes.
Bitcoin (BTC) has reached $97,524.91, with its market capitalization approaching $1.95 trillion, according to recent data. The asset currently dominates 59.05% of the crypto market, showcasing a notable 24-hour trading volume increase of 42.92%. These movements highlight Bitcoin's volatile trajectory, having gained 7.08% over the past week.
Research from the Coincu team suggests that the absence of a decisive Supreme Court ruling could maintain existing tariff frameworks. Such delays underscore uncertainties in regulatory policies, which can affect market sentiment and potentially fuel further crypto volatility. Future technological advancements may mitigate some of these impacts, driving innovation amid uncertain times.