Asian Crypto Markets Remain Cautious: Bitcoin Around $96,790 as Investors Watch the US Tariff Ruling

Market Scenario: Bitcoin Awaiting Regulatory Clarifications

During Asian trading sessions, Bitcoin continues to move within a defined range, settling around $96,790 with a positive performance of 1.28% in the last 24 hours. The situation reflects a market on hold: Asian market operators are closely watching developments related to the U.S. Supreme Court decision regarding President Trump’s tariff powers, scheduled for (or US time) on January 10.

Regulatory uncertainty is the true driver of market sentiment. On Polymarket, bettors assign only a 24% probability that the Supreme Court will fully approve the use of emergency economic powers for imposing tariffs. This data reveals that the outcome remains far from certain, keeping investors in a constant state of vigilance.

Market Dynamics: Controlled Volatility and Tactical Liquidations

Contrary to what one might expect in such an uncertain environment, Asian markets have not experienced wild swings. CoinDesk Indices analysis shows that the first quarter of 2025 saw sharp but contained declines, mainly driven by forced liquidations, deleveraging, and momentum-driven sales, rather than massive outflows from digital assets.

An important strategic consideration: trend-following approaches—buying during rallies and selling during dips—have proven effective in navigating this turbulent period. Meanwhile, long-term investors have maintained their positions, suggesting a fundamental confidence in the crypto landscape despite uncertainties.

Ethereum follows a similar trajectory, trading at $3,370 with a gain of 1.51% in the previous 24 hours, signaling a recovery for both major assets in the class.

Future Scenarios and Implications for Digital Assets

If the Supreme Court limits tariff powers, according to economists at Interactive Brokers like Jose Torres, the administration could resort to alternative trade measures. “President Trump remains firmly committed to pursuing his agenda, regardless of legal challenges that may arise,” Torres noted in an interview with CNBC.

This scenario would lead to higher U.S. yields and more restrictive global liquidity conditions—two factors that have historically exerted pressure on cryptocurrencies. However, a often-overlooked aspect is that the real risk does not lie in the complete removal of tariffs but in a partial ruling that would force the administration to implement more fragmented and legally contested trade measures, prolonging market uncertainty.

A positive element emerging from available research: once markets settle regarding persistent uncertainty, Bitcoin tends to stabilize more quickly than traditional stocks, with the correlation between the two asset classes gradually weakening.

Broader Picture of Asian Markets

Beyond the crypto sector, macroeconomic indicators provide further context. Japan’s Nikkei 225 index gained 0.54%, fueled by expectations for December Chinese inflation data, which is expected to show an annual increase of 0.8%.

In the precious metals sector, HSBC projects reaching $5,050 per ounce of gold by early 2026, supported by ongoing geopolitical tensions and rising sovereign debt. However, analysts warn of potential increasing volatility and subsequent corrections if the risk environment eases.

Other Relevant Sector News

In regulatory news, President Trump has announced he will not grant a pardon to Sam Bankman-Fried. In the traditional financial institutions sector, Bank of America has upgraded Coinbase’s rating to ‘Buy,’ highlighting confidence in the Base platform and the positive effects of tokenization processes.