On Friday, the US Supreme Court overturned President Donald Trump’s tariffs. However, shortly after the Supreme Court’s decision, Trump announced a new order raising tariffs to 15%.
While the court ruling initially provided some relief to Bitcoin and altcoins, Trump’s announcement of new tariffs brought about another decline.
As discussions continue regarding US tariffs, Trump made a statement on his TruthSocial account.
Trump argued that the recent Supreme Court decision actually strengthened presidential authority.
Calling the court’s decision absurd and divisive, Trump said, “The Supreme Court has given me more authority and power than I had before the decision.”
President Trump specifically mentioned the licensing system, which applies to foreign countries, and argued that the US should be able to use it as well, saying “all licensing has fees.”
Trump stated that he had work to do and added, “Let’s Make America Great Again.”
Investors Expect a Drop in Bitcoin!
As Trump’s new tariffs continue to impact Bitcoin, Bitcoin investors have reacted accordingly. Since Friday, the largest increase in open positions (number of active contracts) has been seen on Deribit in 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 taking positions against potential downturns.
*This is not investment advice.