| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107238.0500000000 |
| ETH | $2426.6060000000 |
| BNB | $647.0793900000 |
| XRP | $2.1760420000 |
| ADA | $0.5629588000 |
| SOL | $149.7547000000 |
| DOGE | $N/A |
| DOT | $3.3877000000 |
| LTC | $85.9001000000 |
| LINK | $13.3216600000 |
Category: CRYPTO NEWS
The post ‘Epic Mic Drop’ Court Ruling Could Fuel Rally to $120K appeared on BitcoinEthereumNews.com. Bitcoin has been on a strong upward trajectory in recent weeks, reaching a new all-time high of $111,970 on May 22 before settling around $107,750. This price movement comes amid a significant legal development that could impact the cryptocurrency’s future performance. On May 28, the US Court of International Trade blocked the majority of President Donald Trump’s tariffs, ruling that he had overstepped his authority. This decision could have major implications for Bitcoin and broader market sentiment. Swyftx lead analyst Pav Hundal described the court’s decision as “an epic mic drop” that will “intensify momentum behind Bitcoin.” He believes that “new all-time highs are imminent, and the momentum is largely irreversible at this stage.” The Trump administration has filed an appeal to the court’s decision. However, Hundal suggests that regardless of the outcome, market sentiment has already shifted. “It blows a hole in trade talks either way, and that means we’re likely to witness a repositioning in the market,” he stated. Trump’s initial tariffs on Canada, Mexico, and China, introduced in early February, were widely considered a primary factor behind Bitcoin falling below $100,000 and remaining under that psychological level until May 8. The legal challenge to these tariffs could remove a significant headwind for Bitcoin’s price growth. According to Hundal, “a wall of money” is flowing into Bitcoin through corporations, spot Bitcoin ETFs, and retail investors. Buy everything round dos. pic.twitter.com/VDPxGFYczX — Arthur Hayes (@CryptoHayes) May 29, 2025 Market Metrics Point to Continued Growth The technical indicators for Bitcoin also suggest potential for further price increases. Burak Kesmeci, a contributor on CryptoQuant’s QuickTake platform, has highlighted the importance of the Market Value to Realized Value (MVRV) ratio in his recent analysis. The MVRV ratio, which compares Bitcoin’s market value to its realized value, currently stands at 2.36. This is…
2025-05-29T08:45:09+00:00
https://bitcoinethereumnews.com/tech/epic-mic-drop-court-ruling-could-fuel-rally-to-120k/?utm_source=rss&utm_medium=rss&utm_campaign=epic-mic-drop-court-ruling-could-fuel-rally-to-120k