Bitcoin has broken above the long-standing box-range top and is trading beyond prior consolidation, according to CoinGape. The move intersects with heightened macro sensitivity around a United States Supreme Court tariff ruling, with traders focusing on price structure rather than headlines. As of now, Bitcoin sits near $97,000 after a CPI-driven 4% surge, with a cup-and-handle breakout near the $94,000 supply zone suggesting the previous resistance has become support.
Polymarket data indicate a roughly 67% chance that the Supreme Court could rule tariffs illegal. A positive outcome could unlock refunds exceeding $600 billion, potentially easing financial conditions and boosting risk assets. CoinGape notes that such a development would reduce fiscal tightening and raise liquidity expectations, meaning Bitcoin typically benefits when liquidity expectations expand even before policy shifts materialize. Conversely, a ruling in favor of tariffs could reframe market expectations, keeping trade cost uncertainty and risk appetite subdued, which would dampen BTC momentum.
Regardless of the timing of the ruling, Bitcoin appears to be reacting to the anticipated result, underscoring market dynamics that price in probabilities as a core characteristic. The macro linkage to the Supreme Court decision makes this a broad, external variable influencing BTC despite the near-term price action. CoinGape highlights that the breakout above the 94,000 area confirms a cup-and-handle pattern breakout, with the resistance turning into support as the price hovers around the mid-90s. Technical indicators reinforce the bullish stance.
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