Bitcoin Holds $90K as Supreme Court Delays Tariff Ruling

The price of Bitcoin held firm near the $90,000 threshold on Friday, marking a period of relative stability for the leading cryptocurrency. This calm in the market followed a significant development from the U.S. Supreme Court, which delayed a highly anticipated ruling concerning the legality of Donald Trump's tariff policies. The postponement effectively reduced immediate macroeconomic uncertainty, allowing crypto markets to steady after a week of volatility.

At the time of reporting, the price of Bitcoin stood at approximately $90,443, reflecting a minor 1% decrease over the previous 24 hours. Despite this slight pullback, the asset remains rangebound, indicating that traders are awaiting a clearer catalyst before making significant moves. The total market capitalization for Bitcoin dipped to around $1.80 trillion, mirroring the percentage drop in price. Daily trading volume, however, remained healthy at roughly $45 billion, suggesting sustained interest from market participants.

The delay in the Supreme Court's decision is viewed as a positive development for the broader financial landscape. By pushing the ruling to the following week, the court has temporarily alleviated concerns regarding potential fiscal disruptions. Specifically, market analysts had been concerned about the possibility that the U.S. Treasury might be forced to refund more than $130 billion to importers if the tariffs were struck down. This potential liquidity drain had been a major source of anxiety for investors across asset classes.

Furthermore, Bitcoin's behavior continues to evolve, increasingly acting as a macro-sensitive asset rather than a purely speculative instrument. The asset reacted positively to the reduced risk of abrupt policy changes, demonstrating its growing correlation with traditional financial markets. As the circulating supply of Bitcoin approaches 19,973,659 BTC—edging closer to the hard cap of 21 million—the long-term scarcity narrative remains a fundamental backdrop to current price action.

Markets initially experienced volatility earlier this week as traders positioned themselves ahead of the potential Supreme Court decision. The ruling, which concerns the legality of tariffs implemented during the Trump administration, was viewed as a major catalyst that could dictate short-term economic direction. However, sentiment shifted on Friday following the announcement of the delay. The U.S. Supreme Court pushed the ruling to next week, a move that immediately reduced downside risk across equities, bonds, and digital assets.

As the U.S. equity market opened, Bitcoin hovered around the $90,000 mark as investors reassessed their risk exposure. The delay eased concerns regarding abrupt fiscal disruptions. Analysts had been monitoring the scenario in which the tariffs were deemed illegal, which would have required the U.S. Treasury to issue refunds estimated at over $130 billion to importers. Such a massive liquidity withdrawal would have likely caused significant stress across the financial system.

Consequently, the temporary reprieve allowed Bitcoin to stabilize. The asset has increasingly traded as a macro-sensitive instrument, reacting to shifts in policy expectations and liquidity conditions. The following key factors influenced market behavior this week:

• The U.S. Supreme Court delayed a ruling on the legality of global tariffs.
• Markets reacted by reducing immediate downside risk across asset classes.
• Concerns about a $130 billion refund to importers were temporarily alleviated.
• Bitcoin maintained its position near recent highs despite the delay.

Major legal and political developments continue to exert significant influence over Bitcoin's short-term price action. While long-term adoption trends remain intact, the immediate price movements are heavily dictated by the evolving macroeconomic landscape and regulatory news.

The current price action reflects a cooling period following a strong rally in the opening days of January. That surge briefly pushed Bitcoin toward new short-term highs, reigniting bullish sentiment among investors. However, as momentum faded near resistance levels, the market naturally entered a phase of profit-taking. This has resulted in the asset becoming rangebound, with volatility compressing as traders await a definitive breakout or breakdown.

From a technical perspective, market participants are closely monitoring the $90,000 to $91,000 zone. This area is currently identified as a critical support level. The price of Bitcoin stands at $90,814, sitting just above this key psychological and technical area. The asset is currently approximately 2% below its seven-day high of $91,839 and roughly 1% above its seven-day low of $89,671.

Traders are watching for two potential scenarios in the immediate future:

1. Bearish Scenario: A sustained break below the $90,000 support could expose the price to further downside, potentially targeting the high-$80,000 range.
2. Bullish Scenario: A decisive move back above $92,000 would likely reopen the path toward higher resistance levels and challenge recent highs.

For now, Bitcoin remains locked in consolidation. The circulating supply stands at 19,973,659 BTC, inching closer to the fixed cap of 21 million coins. This structural scarcity continues to underpin long-term bullish narratives, even as short-term technical indicators suggest a period of dormancy.

Amidst the price consolidation, speculation regarding sovereign adoption of Bitcoin has resurfaced. Cathie Wood of ARK Invest recently discussed the potential for political factors to drive United States policy regarding digital assets. In a podcast conversation, Wood suggested that the administration could move from merely holding confiscated assets to actively purchasing Bitcoin for a national strategic reserve.

Wood argues that cryptocurrency has become a durable political issue for President Donald Trump. This dynamic could shape policy significantly ahead of upcoming midterm elections. Currently, the U.S. holds a reserve of Bitcoin comprised of seized assets. President Trump has previously pledged not to sell any of this Bitcoin, with an original goal reportedly set to acquire one million BTC.

Wood suggested that the administration may transition toward purchasing Bitcoin outright. She views this as a potential market inflection point, particularly given the scarcity narrative. With nearly 20 million of the 21 million cap already mined, government purchases could significantly impact supply and demand dynamics. Wood stated, "If the United States would start buying bitcoin, its safe to assume that the bitcoin price would react positively."

Furthermore, the crypto industry has emerged as a more organized political constituency, engaging with the White House through donations and events. Executive orders have already established the framework for a reserve and stockpile, with recommendations for U.S. Treasury-led expansion. Wood's analysis suggests that if the United States begins buying Bitcoin, the price reaction would likely be positive.