Bitcoin falls after US court rules to restore Trump tariffs

US Court Rules "Trump Tariffs Illegal"... Tariffs Continue Until Appeal
BTC Slightly Declines... Altcoins Fall Over 5% Due to 'Risky Asset' Avoidance
Joel Kruger "BTC Consolidating Just Below Peak... Predicting Rebound"

Bitcoin (BTC) declined on the 30th due to Trump tariff uncertainty.

The US Court of International Trade (CIT) ordered on the 29th to permanently halt the reciprocal tariff policy of US President Donald Trump, stating it was an "illegal action that abuses presidential authority". This is because the authority to determine tariffs lies with Congress, and Congress has not given the president unlimited delegation.

The court's postponement of the ruling on Trump's tariff policy spread economic uncertainty and caused asset markets to decline.

Amid economic uncertainty, Bitcoin slightly declined, while many altcoins fell over 5%. This is interpreted as an increased aversion to risky assets.

◇Bitcoin = At 4 PM on the 30th, the Bitcoin price on Upbit was 147.81 million won. Bitcoin dominance was 64.02%.

According to on-chain analysis platform Sigbit, the long and short betting ratios in the Bitcoin futures market were 53.22% and 46.78%, respectively.

Despite Bitcoin's decline, experts maintained a positive outlook on Bitcoin.

Joel Kruger, market strategist at LMAX Group, which operates an institutional cryptocurrency exchange, said, "With the tariff-related appeal in progress and the trade negotiation deadline approaching, tariffs are back in the spotlight, and we expect a volatile market."

He added, "Bitcoin appears to be consolidating just below its peak, showing a robust performance. Having maintained over $100,000 for 20 consecutive days, positive signals are emerging that prices could rise."

◇Rising Coins = At 4 PM on the 30th on Upbit, Safe (SAFE) recorded the largest increase, rising about 10% that day.

Safe is a project that provides users control over various assets including identity verification, finance, and cryptocurrency, with strengths in security, vault, and wallet areas.

It has smart contract wallets running on multiple blockchains and offers multi-signature wallet functionality that requires approval from a certain number of people to process transactions. Along with high security, it provides various additional services and gas fee saving features for user experience.

◇Fear and Greed Index = The digital asset Fear-Greed Index provided by Alternative is at 60 points, entering the 'Greed' stage. The greed stage is characterized by increased price volatility and trading volume. There is a high possibility of short-term peak formation, so caution is advised when selling.

The Relative Strength Index (RSI) provided by Sigbit is 37.2, recording a 'neutral' state. RSI measures the relative strength between upward and downward pressure on a specific asset price and indicates the overbought and oversold scales of an asset.

Reporter Seung-won Kwon ksw@blockstreet.co.kr