Bitcoin is breaking $97K resistance just as traders brace for a closely watched U.S. Supreme Court ruling on Trump’s tariffs.
Crypto analyst and YouTuber Nick (known for macro-technical breakdowns of Bitcoin and XRP) says the market is “starting to heat up in a big way” just as traders brace for a U.S. Supreme Court ruling on Trump-era tariffs that many fear could rattle risk assets.
In a new video, he argues the Supreme Court’s Trump tariff decision is largely priced in and, if anything, removes a macro overhang rather than creates a new one — while Bitcoin quietly prints what he calls a “solid breakout” that mirrors its April 2025 bottoming structure.
Bitcoin’s Structure: “Game Over For Bears” Above $95K
On his three‑day chart, Nick highlights Bitcoin pushing through a key resistance zone around $94,000-$95,000, with a daily close above both the level and prior wicks. At the time he recorded, BTC was trading above $95K, which he frames as the final hurdle before a potential move toward $100K+.
He points to RSI bullish divergence and a turn in MACD momentum that look “very similar” to the April 2025 bottom. In that earlier setup, a 53-54 day downtrend ended with a sharp upside expansion; he notes this current correction has run a nearly identical length.
“If we break above $94.4K, I’m expecting a retest of $106K,” he says, adding that multiple resistance levels between 94K and 106K make a straight-line move unlikely. Instead, he expects chopping and ranging inside that band, but within what he still views as a macro uptrend.
The broader crypto market cap, he notes, has added more than $150 billion in roughly 24 hours, with the total market chart following almost the same pattern he flagged in a December 21 post that called for a sentiment-driven reversal from extreme bearishness.
XRP Setup Holds Ahead Of Tariff-Ruling Everyone Fears
XRP, trading around $2.16 after bouncing off roughly $2.04, is also on his radar. On the weekly chart, RSI has just broken its moving average while MACD bearish momentum is fading — similar to the June-July 2025 period that preceded a major XRP spike. He stresses, however, that XRP still needs clearer bullish momentum before he treats it as fully confirmed.
The immediate focus for markets is Wednesday’s Supreme Court decision on whether Trump’s tariffs were legal. Prediction markets put the odds of the tariffs being ruled illegal at around 73-76%. Trump himself has warned that, if the court rules against him, the U.S. may have to refund “trillions of dollars” in tariffs, describing it as a “complete mess.”
Nick pushes back on the panic. He underscores that the court is ruling on how the tariffs were implemented, not on the existence of tariffs as a policy tool. He cites comments attributed to Treasury Secretary Scott Besant that the U.S. Treasury “has enough to cover tariff refunds” and can “easily absorb” them without creating a liquidity crunch.
To him, that makes the event mostly neutral: the market “expects” an illegal ruling, and the refund risk is already reflected in prices. He suggests that a surprise ruling upholding the tariffs could actually be the bigger short‑term catalyst.
Sentiment, Liquidity & Why The Bottom Might Be In
YouTuber Nick repeatedly contrasts current on‑chain and structural signals with what he describes as historically washed‑out sentiment: low retail participation, collapsing Google search interest in crypto, and “CT demise” (crypto Twitter engagement falling off). “These are typically not signs you see at the top,” Nick argues.
While warning against getting “too bullish” before more levels flip, he believes the combination of macro noise being priced in, improving technicals on BTC and XRP, and a clean, volume‑supported breakout in total crypto market cap points toward a broader rebound rather than another leg down.
For investors, the call is straightforward but not risk‑free: treat the tariff ruling as background noise unless it delivers a genuine surprise, and watch Bitcoin’s behavior between 95K and 106K as the real tell for where this cycle goes next.
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