Bitcoin Holds Steady Above $67,000 Despite Fed’s Hawkish Signals, Altcoins Push Higher Amid Tariff Relief
Crypto prices showed resilience on Saturday, buoyed by optimism over potential tariff rollbacks following the Supreme Court ruling. What to know:
Bitcoin stabilized near $67,500 after dipping on Fed minutes hinting at possible rate hikes. The CoinDesk 20 Index climbed 1.8%, led by gains in SOL, BNB, and DOGE amid easing trade tensions. Analysts suggest crypto could enter a bullish phase if tariffs are fully reversed, potentially sparking an ‘altseason.’
Bitcoin (BTC) $67,728 held firm above $67,000 on Saturday, recovering from an initial dip triggered by hawkish Federal Reserve minutes, while altcoins extended gains on hopes of tariff relief.
The session followed the release of Fed meeting minutes that discussed the possibility of further rate hikes if inflation persists, briefly pressuring risk assets. However, the crypto market quickly shrugged off the news, focusing instead on positive developments from the recent U.S. Supreme Court decision deeming President Donald Trump’s global tariffs illegal. This ruling has sparked discussions about potential refunds and a rollback of trade barriers, which could ease inflationary pressures and boost economic growth.
By midday, President Trump responded to the ruling but indicated openness to negotiations, tempering earlier threats of additional levies. Market sentiment improved, with risk assets rebounding across the board.
Crypto assets advanced modestly, with the broad-market CoinDesk 20 Index up 1.8% in the last 24 hours. Solana (SOL) $85.03 led the pack with a 4% gain, followed by BNB at 3.2% and Dogecoin (DOGE) $0.1001 up 3%. Ethereum (ETH) $1,973.48 rose 1.5%, while Bitcoin traded around $67,728, up 1.2%.
In traditional markets, the S&P 500 gained 0.5%, and Nasdaq 100 rose 0.6%. Crypto-related stocks performed well, with Coinbase (COIN) up 2.5% and MicroStrategy (MSTR) advancing 3%. However, some Bitcoin miners like Riot Platforms (RIOT) lagged, down 2% amid ongoing energy cost concerns. Potential for altseason amid tariff rollback
“The Supreme Court’s tariff ruling could be the liquidity shock crypto needs,” noted a trader on Reddit, suggesting that a full rollback might trigger an ‘altseason’ where altcoins outperform Bitcoin. This view aligns with broader market analysis, where reduced trade tensions could lower inflation risks and encourage risk-on behavior.
However, caution remains. “While tariff relief is bullish, Fed hawkishness could cap upside if rates stay elevated,” said Paul Howard, director at trading firm Wincent, echoing sentiments from the prior session. Volumes are subdued, and crypto may trade rangebound unless clearer signals emerge on policy.
Geopolitical risks, including potential escalations with Iran, loom as a wildcard, but for now, the market’s focus is on domestic economic cues driving the modest bounce.
