Did Trump’s Tariff Decision Affect the BTC Market?
US President Donald Trump announced on Saturday that he was raising the 10% global tariff announced on Friday to 15% and stated that the decision took effect immediately. In his Truth Social post, he criticized the Supreme Court’s decision to overturn its authority under the International Emergency Economic Powers Act (IEEPA), emphasizing that the tariffs are based on the Commerce Expansion Act of 1962 and the Trade Act of 1974.
Source: Donald TrumpBTC Market Unresponsive to Trump Tariffs
Crypto lawyer Adam Cochran noted that these laws limit tariffs to countries with trade deficits for 150 days and a specific percentage. Although previous announcements led to declines in crypto and stock markets, the crypto market showed resilience in recent developments. Bitcoin (BTC) remained stable at the 68.338 dollar level (+0.91% 24h), Ether (ETH) showed no significant change. Total market cap excluding BTC and ETH (Total3) traded at 713 billion dollars with less than 1% decline. The 12 spot Bitcoin ETFs in the US recorded strong inflows after Presidents’ Day on February 20.
Bitcoin price did not react to Trump tariffs. Source: TradingViewBTC Technical Analysis: Supports and Resistances
BTC is in a downtrend (RSI 38.24, Supertrend bearish, EMA20: 71.030$). Strong supports: S1 64.520$ (⭐⭐⭐ strong, -5.59%), S2 60.000$ (-12.20%). Resistances: R1 69.362$ (+1.50%, ⭐⭐⭐⭐), R2 71.007$ (+3.90%). Despite institutional buying, searches for ‘BTC goes to zero’ are increasing, but the market is stable. Click for detailed BTC analysis. Monitor volatility with BTC futures.
Source: https://en.coinotag.com/trump-raised-tariffs-to-15-btc-resilient
