US Supreme Court Ruling Boosts Crypto Market Recovery

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 hours ago

Should l Buy BTC?

Market Recovery: Following the US Supreme Court's ruling against Trump's tariffs, the crypto market cautiously rebounded with Bitcoin rising to $68,200 and total market capitalization exceeding $2.3 trillion, indicating market sensitivity to policy changes.
Top Performers: Cryptocurrencies like Kite, Morpho, LayerZero, and Render saw gains of over 6%, reflecting increased investor interest in emerging projects, which may attract more capital into the market.
Stock Market Rebound: The Dow Jones and Nasdaq 100 indices rose by over 0.50%, suggesting a recovery in investor confidence regarding economic prospects, although the market still faces uncertainties ahead.
Potential Risks: Despite the short-term market gains, Trump may utilize alternative methods to impose tariffs, and escalating tensions in Iran could lead to rising oil prices, increasing inflationary pressures that complicate the Federal Reserve's interest rate decisions.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	59083.794	62100.897	64948.794	67965.897	70813.794	73830.897	76678.794
Fibonacci	62100.897	64341.327	65725.467	67965.897	70206.327	71590.467	73830.897

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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