{"id":29156,"date":"2025-05-29T06:17:17","date_gmt":"2025-05-29T06:17:17","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=29156"},"modified":"2025-05-29T06:17:17","modified_gmt":"2025-05-29T06:17:17","slug":"bitcoin-120k-epic-mic-drop-rally-set-after-us-court-blocks-trump-tariffs","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=29156","title":{"rendered":"Bitcoin $120K \u2018epic mic drop\u2019 rally set after US court blocks Trump tariffs"},"content":{"rendered":"
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\"Bitcoin<\/p>\n

Bitcoin is poised to rally toward $120,000 after a US federal court blocked the majority of President Donald Trump\u2019s tariffs, a crypto analyst says.<\/p>\n

\u201cThe trade court decision was an epic mic drop, and it\u2019s going to intensify momentum behind Bitcoin,\u201d Swyftx lead analyst Pav Hundal told Cointelegraph.\u00a0<\/p>\n

The US Court of International Trade reportedly blocked<\/a> Trump from imposing his tariffs on May 28, arguing that he overstepped his authority.<\/p>\n

Court \u201cblows a hole in trade talks\u201d<\/h2>\n

Hundal said the decision would have a domino effect on Bitcoin\u2019s price and believes \u201cnew all-time highs are imminent, and the momentum is largely irreversible at this stage.\u201d<\/p>\n

Bitcoin\u2019s (BTC<\/a>) current all-time high of $111,970 was reached on May 22, but it has since fallen to trade around $107,750, according<\/a> to CoinMarketCap data.<\/p>\n

\"Cryptocurrencies,
Bitcoin is down 3.36% over the past seven days. Source: <\/em>CoinMarketCap<\/em><\/a><\/figcaption><\/figure>\n

The Trump administration has reportedly filed an appeal to the court\u2019s decision and Hundal said that regardless of whether it presents a new justification for the tariffs, the market sentiment has already changed.<\/p>\n

\u201cIt blows a hole in trade talks either way, and that means we\u2019re likely to witness a significant repositioning in the market.\u201d<\/p>\n

On April 2, Trump signed an executive order and<\/a> claimed emergency powers<\/a>, levying so-called \u201creciprocal tariffs\u201d on every country starting at 10%<\/a>.<\/p>\n

Trump\u2019s initial tariffs on Canada, Mexico, and China, introduced in early February, were widely seen as the primary catalyst behind Bitcoin falling below $100,000 and staying under the psychological level until May 8, as broader macroeconomic uncertainty intensified.<\/p>\n

\u201cThe trade war likely delayed a meaningful greed, really \u2014 but it didn\u2019t bury it. The trend is higher,\u201d Hundal said. BitMEX co-founder Arthur Hayes said<\/a>, \u201cBuy everything round dos.\u201d<\/p>\n

Traders ponder \u201cgreen candles\u201d tomorrow<\/h2>\n

Crypto analyst Bitcoin Ranchy said<\/a>, \u201cSo Trump tariffs are illegal? Does that mean we get green candles all around tomorrow?\u201d<\/p>\n

Hundal said \u201ca wall of money\u201d is coming into Bitcoin through corporations, spot Bitcoin ETFs and retail. The trading week ending May 23 saw US-based spot Bitcoin exchange-traded funds (ETFs) record a total of $2.75 billion in inflows<\/a>.<\/p>\n

Related: <\/strong><\/em>Bitcoin analyst says BTC price peak in $220K to $330K range still possible<\/strong><\/em><\/a><\/p>\n

\u201cThe court order has just accelerated that rotation into risk assets across the US and Asia,\u201d Hundal said.<\/p>\n

He added all data signals \u201ca solid floor for demand on spot Bitcoin and a very solid consensus for $120K in the option markets.\u201d<\/p>\n

Geoff Kendrick, global head of digital assets at Standard Chartered<\/a>, recently said in an email note seen by Cointelegraph that Bitcoin is expected to hit $120,000 in the first half of 2025 en route to $200,000 by year-end, fueled by the rise of stablecoins.<\/p>\n

Magazine: <\/strong><\/em>Move to Portugal to become a crypto digital nomad \u2014 Everybody else is<\/strong><\/em><\/a><\/p>\n

This 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.<\/p>\n