US President Donald Trump announced a 10% global tariff on Friday despite the Supreme Court (SCOTUS) overturning the tariff authority under the International Emergency Economic Powers Act (IEEPA). This decision will be added alongside existing national security (Section 232) and Section 301 tariffs.
Trump’s 10% Global Tariff Decision and Legal Debates
US lawmakers, Washington-based think tanks, and lawyers issued sharp criticisms. Pro-crypto lawyer Adam Cochran emphasized that the law Trump cited can only be applied to countries with trade deficits, for 150 days, and with limited percentages. Cato Institute Trade Policy Center Deputy Director Scott Lincicome stated that high tariffs would harm the economy and foreign relations.
President Trump announces 10% global tariff. Source: The White HouseSenator Rand Paul and Ro Khanna’s Sharp Criticism of Tariffs
Senator Rand Paul described the tariffs as “a tax increase on working families and small businesses.” Representative Ro Khanna called them “a tax on families and small businesses to finance an irresponsible trade war.”
Source: Rep. Ro KhannaCrypto Market Reaction: BTC Up 3% While Altcoins Stable
Trump’s tariffs usually negatively affect crypto markets, but after the announcement, Bitcoin (BTC) price rose about 3% while the market remained relatively stable. The Total3 index (total market cap excluding BTC and ETH) showed no significant movement. Current BTC price $68,620.28, 24-hour change +%1.25. According to recent news, Google searches for ‘Bitcoin will go to zero’ remain low, while institutional buyers continue to accumulate BTC; this makes BTC a safe haven in macro uncertainty.
Total3 index barely moved after the tariff announcement. Source: TradingViewFor detailed BTC analysis, visit our BTC detailed analysis page or check BTC futures.
Bitcoin Technical Analysis: Strong Supports and Resistances
RSI at 38.50 in the oversold region, overall trend downward (Supertrend: Bearish). EMA 20: $71,039. Supports: S1 $64,525 (strong, 5.71% distance), S2 $60,000 (strong, 12.32% distance). Resistances: R1 $69,372 (strong, 1.38% distance), R2 $71,011 (strong, 3.77% distance). Investors should also follow the ETH spot market, altcoins (ALT) showing similar stability to Total3.
- Support Sources: Fibo 0.114, Keltner Lower, ATR Lower
- Resistance Sources: BB Middle, SMA 20, Swing High
Source: https://en.coinotag.com/trump-announces-10-global-tariff-btc-rises-3
