💬 The cancellation of tariffs and why the market is not reacting to this event?
We have talked many times about the irrational behavior of the market and that it lives by its own plans and rules
🗣Today, a very strong news item came out about a court ruling to cancel the trade tariffs imposed by Trump, but we did not see any particular positivity on the chart
The cancellation of tariffs is happening due to Trump's exceeding his authority:
🟠The Constitution of the USA grants the right to regulate foreign trade only to Congress.
🟠The tariffs were based on the IEEPA law - it applies to sanctions, not trade measures.
🟠All tariff directives from January 2025 are declared invalid.
🟠If the decision comes into effect - the USA will return the collected fees, which are currently estimated at 10 billion.
Trump's administration has already filed an appeal and threatens to overturn the judge's decision + they may try to find other legislative loopholes to resume the tariffs
🔴Overall - this is all again pure information noise and a continuation of the rocking of uncertainty
📉 If we are not currently being shown any clear positivity on this news, then the market's priority is to continue the corrective slide, which I am more inclined to locally
Bitcoin has long been sufficiently overheated and needs a deeper correction. Ignoring positive news is another sign and hint that increases the likelihood of a decline