Bitcoin (BTCUSD) stalls near $90K as markets await major U.S. catalyst
Bitcoin hovered around the $90,000 level around Friday’s Wall Street open, with traders staying cautious ahead of potential U.S. trade tariff news that could shake risk assets.
Here’s what’s driving the market 👇
🔹 US tariff uncertainty
Markets are bracing for a possible Supreme Court ruling on U.S. trade tariffs, which many expect could strike down President Trump’s measures. Analysts say such a decision could reshape global trade dynamics and spill over into crypto volatility.
🔹 Macro data takes a backseat
Although U.S. unemployment data missed expectations, it failed to move markets meaningfully. The Federal Reserve is still widely expected to hold interest rates steady this month, reinforcing a “wait-and-see” environment.
🔹 Bitcoin stuck in a range
BTC remains locked in a tight range after nearly two months of sideways action. Many traders are stepping aside, waiting for a decisive breakout rather than chasing small moves.
* Key levels to watch: $88,000 support and $92,000 resistance
* Price is interacting with the 200-period MA on the 4H timeframe
* An unfilled CME gap from early January adds to the technical uncertainty
🔹 What could change the picture?
Holding the 21-day moving average is seen as crucial. Losing it could trigger a deeper correction, while a clean break above resistance may finally end the range-bound phase.
📌 Bottom line:
Bitcoin is in pause mode. Until macro clarity arrives — especially around U.S. trade policy — traders are likely to stay patient and defensive.
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