Bitcoin shrugged off a volatile round of US tariff headlines on Friday, inching towards $68,000, and altcoins jumped modestly.
The day began with the US Supreme Court ruling President Donald Trump’s global tariff rollout illegal. The decision did not clarify what should happen to tariff revenue already collected, and it does not necessarily spell the end of Trump’s trade agenda, with several legal and executive options still available.
In the afternoon, President Trump announced an additional 10% global tariff to be rolled out under Section 122 for approximately five months, effective in three days.
The new charge, imposed on top of the existing rates, hardly brought the mood.
Risk assets, including crypto, pushed modestly higher through the session. The broad market CoinDesk 20 Index rose 2.5% over the past 24 hours, with BNB, , and Solana (SOL) is doing better with 3%-4% progress. Bitcoin recently traded just below $68,000.
Meanwhile, the S&P 500 and Nasdaq 100 gained 0.9% and 0.7%, respectively. Among crypto-linked stocks, exchange Coinbase ( COIN ), stablecoin issuer Circle ( CRCL ) and bitcoin treasury firm Strategy ( MSTR ) rose more than 2%. Bitcoin miners tied to AI infrastructure build-out underperformed, with Riot Platforms ( RIOT ), Cipher Mining ( CIFR ), IREN and TeraWulf ( WULF ) falling 3%-6%.
Cryptos to stay reach
“We’ve seen a slight pick-up in risk asset news post-tariffs as it feeds into a narrative that tariffs are harmful to the macro environment,” said Paul Howard, director at trading firm Wincent.
Still, the conviction remains bright that prices can break out to the upside from the current tight range. “Volumes remain muted, however, and we can expect crypto to maintain range-bound trading for the time being” barring “macro or geopolitical shocks,” Howard added.
A key potential macro risk could be Trump ordering strikes against Iran in the next few days, following the significant military buildup in the region for several weeks now.
