Bitcoin traders avoided taking positions amid sideways BTC price action, while markets waited for a decision on US trade tariffs by the Supreme Court.
Bitcoin () hovered at $90,000 around Friday’s Wall Street open as markets braced for US trade tariff news.
Key points:
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RIsk-asset traders await news over US trade tariffs, as bets see the Supreme Court striking down the measures.
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US unemployment data misses expectations, with the Federal Reserve seen holding rates this month.
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Bitcoin traders demand clearer signals to end the rangebound price deadlock.
US tariff ruling could come Friday
Data from showed indecisive BTC price action ahead of a potential Supreme Court ruling over the tariffs, known as a .
Commenting, trading resource The Kobeissi Letter noted that bets favored President Donald Trump’s trade measures being ruled illegal.
“The decision could reshape trade policy and ripple across global markets, including crypto,” crypto education platform Coin Bureau in a post on X.
The forthcoming news meant that US unemployment data, which came in lower than expected, took a backseat.
As , the Federal Reserve was already expected to hold interest rates at at its January meeting.
“The Fed is set to pause interest rate cuts,” Kobeissi on the back of the data.
Bitcoin price inertia keeps traders away
Among traders, BTC/USD remained a “no trade” pair amid a lack of a clear trend.
Related:
“Still ranging as has been the case for the past ~2 months. I am not interested in trying to trade the next 5% move on this at all,” Daan Crypto Trades X followers on the day.
“Just chilling until the start of the year chop is over and we see a decisive breakout to either side.”
An accompanying chart showed price interacted with its 200-period moving average (MA) cloud on four-hour timeframes.
Trading account Deadline flagged $88,000 and $92,000 as key points of interest while referencing an in CME Group’s Bitcoin futures market from the new year.
Little tricky market circumstances here, as Bitcoin is correcting again,” crypto trader, analyst and entrepreneur Michaël van de Poppe .
“However, holding the 21-Day MA would be great, as that would prevent a further cascade.”
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