Markets
What to know:
- Bitcoin, that cheeky little rascal, flirted with $68,000 on Friday, seemingly unfazed by President Trump’s latest 10% global tariff drama.
- The CoinDesk 20 Index, like a determined student on exam day, rose by 2.5%, with BNB, DOGE, ADA, and SOL claiming the spotlight for their impressive gains.
- One trader, in a moment of rare insight, suggested that prices might be stuck in a range unless something truly shocking occurs-like a cat learning to dance.
Ah, Bitcoin! It brushed off the tumultuous news of U.S. tariffs as if they were mere raindrops on its digital parade, inching ever closer to that coveted $68,000 mark while altcoins enjoyed a modest bounce-a light jig on the financial dance floor.
The dawn broke with the U.S. Supreme Court deciding that President Trump’s global tariffication was illegal. However, they left us in the dark about what to do with revenue already collected, much like a parent refusing to explain why the sky is blue.
By the afternoon, amidst the ongoing circus, Trump decided to sprinkle an additional 10% global tariff into the mix, effective in three days, because why not add a bit more spice to the pot?
This fresh levy, like a punctured balloon, barely made a dent in market sentiment.
Risk assets, including our beloved crypto, modestly ascended through the day. The CoinDesk 20 Index danced up by 2.5% over the last 24 hours, with BNB and Solana (SOL) leading the glamorous charge with gains between 3% and 4%. Bitcoin, of course, was prancing around just below that elusive $68,000 mark.
Meanwhile, the S&P 500 and Nasdaq 100 managed to climb 0.9% and 0.7%, respectively-an impressive feat for indices that clearly enjoy a good show. Among crypto-linked stocks, Coinbase (COIN), Circle (CRCL), and Strategy (MSTR) strutted their stuff with rises exceeding 2%. Alas, Bitcoin miners, busy building AI infrastructures, seemed to have missed the memo and fell short, with declines between 3% and 6%.
Cryptos to stay rangebound
“We’ve observed a slight rally in risk assets post-tariff news,” remarked Paul Howard, director at trading firm Wincent, “as it paints a picture that tariffs are less than friendly for the macro environment-a lovely way to put it, really.”
Yet, the certainty regarding a breakout remains as absent as a loyal friend at a party. “Volumes, however, are still lacking vibrancy, and we can expect crypto to stay within its cozy range for the foreseeable future,” Howard noted, unless something extraordinary jolts them awake, like a macroeconomic earthquake or a geopolitical melodrama.
A key potential macro risk could arise if Trump decides to send some fireworks toward Iran in the coming days, following weeks of military buildup in the region-because when has escalation ever been a dull affair?
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2026-02-21 00:32