The more significant result from the U.S. Supreme Court's rejection of President Donald Trump's trade tariffs may be political, which could sting the industry.
As has been typical in crypto markets of late, even the most modest move higher was met with immediate selling.
US President Donald Trump on Friday voiced support for a Senate measure that would let the US impose tariffs of up to 500% on imports from nations still buying Russian energy. “It would be okay with me,” he said. Related Reading: From Dotcom To Crypto: Veteran Analyst Says The Bull Run Isn’t Over Based on reports, the proposal names oil, natural gas, petroleum products and uranium as covered goods and highlights major buyers such as India and China. The move is described as a tool meant to squeeze Russia’s export revenues, but the measure remains proposed and has not become law. Tariffs Up To 500% On Energy Imports Reports have disclosed that the bill would give the President authority to slap punitive duties — as high as 500% — on goods coming from any country judged to be materially trading in Russian energy. JUST IN: ???????????????? President Trump approves bill allowing 500% tariffs on countries trading with Russia. pic.twitter.com/qaBKVUMwTN — BRICS News (@BRICSinfo) November 17, 2025 Lawmakers behind the text say the measure targets energy purchases that help fund Moscow. How the tariff would be applied, and the exact list of goods and exceptions, is still being worked out in committee. Legal experts warn that a 500% duty would raise immediate questions about trade rules and possible retaliation. Immediate Shock To Risk Assets Markets reacted fast. Crypto traders moved to the exits in the first hours after the news, pushing volatility up across major tokens. Nearly $620 million in crypto positions were liquidated in 24 hours, forcing over 152,000 traders out, with a single $30 million BTC-USD order on Hyperliquid being the largest hit. Major altcoins like XRP, Solana, and Cardano saw sharp swings, and Ethereum dropped toward the $3,000 level. Bitcoin took a 1% hit following the news. In the last week, BTC has lost close to 10% of its value since hitting an all-time high of $126k on October 6, 2025. The crypto market is highly sensitive to geopolitical trade shocks. Analysts warn that a proposed 500% tariff on countries trading with Russia—significantly higher than past rates that caused a $200 billion wipeout—could trigger severe panic selling. Analysts believe that if the large-scale tariff is brought into effect, its short-term effect could decrease Bitcoin and major altcoins’ prices by 10% to 20% due to increased economic uncertainty and panic. Related Reading: Forget The Obituaries—Cardano Is Alive, Says Bitcoin Analyst Wider Economic Ripples And Energy Prices If the tariffs were ever applied, energy flows would be disrupted. That could push crude and gas prices higher, and higher energy costs usually feed into inflation. Central banks might respond by holding rates higher for longer, which can hurt risk assets including crypto. Yet, history shows that once a new price regime takes hold, people sometimes seek alternatives to cash and bank deposits. That dynamic is part of why crypto markets are watching this proposal so closely. Featured image from David Hume Kennerly/Getty Images, chart from TradingView
According to Bloomberg Intelligence’s Mike McGlone, Bitcoin has entered a “do-or-die” phase as traders watch a narrow price band for signs of direction. From an Oct. 6 level of $123,500, the coin tumbled almost 20% to a low of $99,900 on Nov. 4 before recovering to about $106,350. Reports show the move left Bitcoin roughly 14% below its earlier October peak. Related Reading: Trump’s Bitcoin Bet Grows: American Bitcoin Now Holds Over 4,000 BTC Make Or Break Zone For Bitcoin Based on trend lines and monthly charts, McGlone points to a rollover pattern after the months-long climb that culminated in an Oct. 6 high marked on some charts at $126,270. The immediate technical test is the 200-day moving average, which sits near $110,000. Bitcoin Do or Die: $110,000-$100,000 Bitcoin’s rolling-over pattern on monthly charts might signal the opposite of gold’s bull flag to August. The crypto has dropped below its 200-day moving average at $110,000 to Nov. 7 — a key hurdle to signal recovery. Full report on the… pic.twitter.com/n4MMZfhuL3 — Mike McGlone (@mikemcglone11) November 10, 2025 According to his view, Bitcoin needs to push back above that level to make a clear case for renewed upside. If it can’t, the risk is that sellers regain control and prices slip further below the current band between $100,000 and $110,000. Resistance And Momentum Signals Reports have highlighted other warning signs. Long upper wicks have appeared on recent candles, a sign that buyers were checked near the top. The 12-month simple moving average has started to flatten after a steady climb, suggesting the buying drive is slowing. Trader and analyst Michaël van de Poppe has pointed to strong resistance in the $108,000–$110,000 zone. According to him, breaking through that range could open the door back to the highs, and if that happens, altcoins may run harder than Bitcoin. Institutional Moves And Market Mood Institutional buyers remain active. Michael Saylor’s firm purchased 487 BTC worth close to $50 million today, bringing reported holdings to 641,692 BTC. At the same time, exchange-traded funds saw outflows totaling $1.22 billion last week. Market sentiment has nudged up: CoinMarketCap’s Fear and Greed Index rose to 29 from 24, and Bitcoin is up about 3.6% in the past 24 hours after lawmakers advanced a US government shutdown deal. Traders are pricing event-contract probabilities that place a 28% chance Bitcoin reaches $130,000 or higher this year and a 9% chance it tops $150,000. Short-Term Triggers Could Tip The Scale Near-term catalysts are in play. US President Donald Trump’s mention of a possible $2,000 tariff “dividend” and progress toward ending the shutdown appear to have helped the recent bounce. Timothy Misir, head of research at Blockhead Research Network, said the market has cleaner positioning and could see a constructive November if fiscal clarity and ETF flows stabilize. He also warned about risks: continued ETF outflows, delivery delays on fiscal measures, and rising market leverage could reverse the recovery. Related Reading: Trump Media Takes $55M Hit As Bitcoin Holdings Surge In Value What To Watch Next For now, Bitcoin sits in a tight trading range. Reclaiming $110,000 would be read as a positive signal and might restore buying confidence. Falling below $100,000 would likely trigger deeper losses, according to the technical picture analysts cite. Traders and institutions will watch price action around those levels closely — and those moves will shape whether this moment is remembered as a short pause or a major turning point. Featured image from The Conversation/Landmark Media/Alamy, chart from TradingView
Bitcoin slid to its $110,000 support as the broader crypto market shed $80 billion following the Federal Reserve’s interest-rate cut and a new U.S.-China trade agreement.
The U.S. government has delayed its deadline to set tariffs to August 1, while Donald Trump threatened countries aligning with BRICS with extra levies.
Weaker dollar sparks optimism for risk assets as inflation eases.
The crypto market wobbled after Trump accused China of violating a tariff truce.
Tariff reversal fuels bond sell-off as U.S.-China tensions escalate across tech and education sectors.
The president Friday morning threatened an imminent 50% tariff on all EU imports as well as a 25% levy on imported Apple iPhones.
The response of bitcoin prices to the destabilizing announcement of U.S. tariffs in April suggests the digital asset may be achieving one of its fundamental promises, says Hashdex’s Gerry O’Shea.
Treasury Secretary Scott Bessent is headed to Switzerland for talks with Chinese representatives.
Markets have been generally range-bound in the past week, setting the course for what could be an explosive move higher, some say.
Tech stock futures fell as the U.S. imposed tariffs of up to 245% on Chinese imports while gold hit a record high and Nvidia plunged on export control fallout.
U.S. stocks, including Strategy (MSTR) and MARA Holdings, rose on possible progress on trade talks with the EU.
Strategy paused BTC buys as bitcoin tumbled in Q1, but Saylor signaled additional purchases may be coming.
Electronics spared from recent tariffs will face new duties aimed at reshoring semiconductor production, Lutnick said.
Tariffs contribute to stagflation, and this benefits scarce assets such as gold and bitcoin, the report said.
The withdrawals took place even as prices zoomed higher alongside a risk-reset on Wall Street.
President Trump said he authorized a 90-day pause on tariffs on countries that haven't retaliated against the U.S.
"The EU considers US tariffs unjustified and damaging, causing economic harm to both sides, as well as the global economy," the European Commission said
Beijing responds to Washington’s steep tariff hike with equal force, intensifying trade tensions and shaking global markets.
“For investors, the short-term outlook calls for caution, while a further drop to $70,000–$75,000 for Bitcoin is possible if trade tensions escalate,” one trader said.
Previous crises saw the world's largest cryptocurrency tumble 50-70%, the report said.
Frustrated bitcoin bulls might want to zoom out as stocks gain across the globe following the days-long tariff-induced rout.
One of the most volatile trading sessions since March 2020 exposed deep cracks in the global financial system—foreign selling of U.S. Treasury notes is questioned.
The White House denied a report that it was mulling a 90-day delay on imposition of tariffs.