On Friday, the U.S. Supreme Court overturned President Donald Trump’s tariffs. However, shortly after the Supreme Court’s decision, President Trump announced a new order raising tariffs to 15%.
The court’s ruling initially provided some relief to Bitcoin and altcoins, but President Trump’s announcement of new tariffs caused further declines.
As the debate over US tariffs continues, President Trump released a statement on his TruthSocial account.
President Trump claimed that recent Supreme Court decisions actually strengthened the president’s powers.
President Trump called the court’s decision unreasonable and divisive, saying, “The Supreme Court has given me more power and authority than I had before the decision.”
President Trump specifically referred to the licensing system that applies to foreign countries, saying, “Every license has a fee,” and argued that the United States should have similar access.
President Trump said there is work to be done, adding: “Let’s make America great again.”
Investors expect Bitcoin to fall!
As President Trump’s new tariffs continue to impact Bitcoin, Bitcoin investors are reacting accordingly. Since Friday, we have seen the largest increase in open positions (number of active contracts) in Deribit put options, with strike prices of $58,000, $60,000, and $62,000.
This is interpreted as a clear sign that investors are expecting a decline and are positioning against a potential decline.
*This is not investment advice.
