{"id":130203,"date":"2025-05-29T06:16:04","date_gmt":"2025-05-29T06:16:04","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=130203"},"modified":"2025-05-29T06:16:04","modified_gmt":"2025-05-29T06:16:04","slug":"bitcoin-120k-epic-mic-drop-rally-set-after-us-court-blocks-trump-tariffs","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=130203","title":{"rendered":"Bitcoin $120K \u2018epic mic drop\u2019 rally set after US court blocks Trump tariffs"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin 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.<br \/>\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<br \/>\nThe US Court of International Trade reportedly blocked Trump from imposing his tariffs on May 28, arguing that he overstepped his authority.<br \/>\nCourt \u201cblows a hole in trade talks\u201d<br \/>\nHundal 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<br \/>\nBitcoin\u2019s (BTC) current all-time high of $111,970 was reached on May 22, but it has since fallen to trade around $107,750, according to CoinMarketCap data.<br \/>\nBitcoin is down 3.36% over the past seven days. Source: CoinMarketCapThe 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.<br \/>\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<br \/>\nOn April 2, Trump signed an executive order and claimed emergency powers, levying so-called \u201creciprocal tariffs\u201d on every country starting at 10%.<br \/>\nTrump\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.<br \/>\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, \u201cBuy everything round dos.\u201d<br \/>\nTraders ponder \u201cgreen candles\u201d tomorrow<br \/>\nCrypto analyst Bitcoin Ranchy said, \u201cSo Trump tariffs are illegal? Does that mean we get green candles all around tomorrow?\u201d<br \/>\nHundal 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.<br \/>\nRelated: Bitcoin analyst says BTC price peak in $220K to $330K range still possible<br \/>\n\u201cThe court order has just accelerated that rotation into risk assets across the US and Asia,\u201d Hundal said.<br \/>\nHe added all data signals \u201ca solid floor for demand on spot Bitcoin and a very solid consensus for $120K in the option markets.\u201d<br \/>\nGeoff Kendrick, global head of digital assets at Standard Chartered, 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.<br \/>\nMagazine: Move to Portugal to become a crypto digital nomad \u2014 Everybody else is<br \/>\nThis 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.<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-rally-inbound-united-states-donald-trump-tariffs-blocked-court?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin 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. \u201cThe trade court decision&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130203"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130203"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130203\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130203"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}