- Court ruling sparks market dip, Trump’s appeal adds fresh uncertainty.
- Bitcoin falls below $105K, eyes strong support around $104K.
- Altcoins retreat after gains, momentum weak across Ethereum and Solana.
Most cryptocurrencies are trading lower today as market uncertainty grows following a U.S. court’s decision to strike down President Donald Trump’s reciprocal tariffs. The global crypto market cap has fallen 2.56% to $3.35 trillion, though investor sentiment remains in the “Greed” zone with a score of 61 on the Fear & Greed Index.
The market jitters stem from a recent U.S. trade court ruling that deemed Trump’s “Liberation Day” tariffs illegal. This development raised fresh concerns about the stability of the U.S. trade policy and whether $16 billion in collected tariffs might have to be refunded.
However, in a quick turn of events, a federal appeals court has temporarily paused the lower court’s ruling, allowing Trump’s tariffs to stay in effect for now. While markets initially responded positively, those gains quickly faded.
Why is the $104k Level Important for BTC?
Bitcoin, which had rallied earlier, slipped below $105,000 and briefly tested $104,600. According to popular analyst Altcoin Sherpa, although Bitcoin lost support at the $106K level, he believes the overall trend remains bullish. “There’s strong support around $104K, and this green zone should trigger a bounce soon,” he said, adding that volatility is likely to continue in the short term.
Related: U.S. Government’s Crypto Power Play: How Altcoins Are Becoming a Key Asset
BTC Price Outlook: Support, Resistance, and Trajectory
At the time of writing, Bitcoin has climbed slightly, trading at $106,000. .If Bitcoin can maintain the upward trend and break through resistance levels near $110,355, it might signal the start of an upside move. However, for now, the pressure remains on the downside.
Important support clusters are between $103,600 and $104,400 — a region that combines previous swing lows and key Fibonacci levels. A sharp drop below this could open the door to further declines toward $102,500 and even $100,750. On the upside, any bounce is expected to be temporary unless Bitcoin can decisively break above key resistance.
Altcoins Continue To Struggle
Ethereum, down to $2,626, has also cooled off after a stronger start to the week. Solana and XRP, both of which recently saw double-digit weekly gains, are retreating from their highs. Dogecoin, which had surged over 17% in the past week, is also losing steam.
Related: Eric Trump’s Bitcoin Take: Tiny Bits Could Be Worth A Fortune Soon
Despite flashes of individual altcoin strength, the Altcoin Season Index remains low at 21/100. This indicates that Bitcoin continues to dominate market attention and capital flow. The coming days are expected to remain volatile as traders digest ongoing legal developments concerning U.S. trade policy and monitor critical technical levels across the crypto market.
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