Bitcoin Nears $68K as Crypto Market Shrugs Off Trump Tariff Turmoil

Bitcoin (BTC) hovered just below $68,000 on Friday, showing resilience despite a volatile day dominated by U.S. tariff headlines and renewed trade tensions. The leading cryptocurrency climbed steadily as broader risk assets, including major altcoins, posted modest gains.

The day began with the U.S. Supreme Court ruling President Donald Trump’s global tariff rollout illegal. While the decision questioned the legality of previously imposed tariffs, it did not clarify what would happen to collected tariff revenues. Importantly, the ruling does not necessarily end Trump’s broader trade agenda, as alternative legal and executive pathways remain available.

Later in the afternoon, President Trump announced an additional 10% global tariff under Section 122, set to take effect in three days and remain in place for roughly five months. The new levy, layered on top of existing tariffs, had minimal impact on financial market sentiment.

The crypto market responded positively. The CoinDesk 20 Index rose 2.5% over the past 24 hours, with Binance Coin (BNB), Dogecoin (DOGE), Cardano (ADA), and Solana (SOL) outperforming Bitcoin with gains between 3% and 4%. BTC price action remained firm near the $68,000 level, reinforcing its current consolidation range.

Traditional markets also advanced, with the S&P 500 climbing 0.9% and the Nasdaq 100 gaining 0.7%. Crypto-related stocks such as Coinbase (COIN), Circle (CRCL), and MicroStrategy (MSTR) added more than 2%. However, Bitcoin mining companies linked to AI infrastructure development, including Riot Platforms (RIOT), Cipher Mining (CIFR), IREN, and TeraWulf (WULF), declined between 3% and 6%.

Despite the short-term rally, analysts caution that crypto prices may remain rangebound due to muted trading volumes. Market participants are closely monitoring macroeconomic developments, including escalating geopolitical tensions and the potential for U.S. military action involving Iran, which could introduce fresh volatility into both cryptocurrency and global financial markets.