Bitcoin Reaches $67K Despite Tariff Threats, Eyes Key 200-Week Trendline
Bitcoin held steady around $67,000 in Wednesday’s Wall Street open, as investors largely absorbed news of potential U.S. Tariffs and focused on inflation data. The cryptocurrency showed limited reaction to a Supreme Court ruling concerning the legality of some tariffs imposed under the Trump administration, a decision that could lead to as much as $150 billion in refunds, according to trading resource The Kobeissi Letter.
The muted response from the cryptocurrency market contrasts with expectations that tariff-related news often triggers volatility. While the Supreme Court ruled that certain tariffs implemented under the International Emergency Economic Powers Act (IEEPA) were unlawful, some tariffs remained legal, tempering the overall impact. The potential for substantial refunds, however, did not translate into significant upward pressure on Bitcoin prices.
Instead, market attention remained fixed on recent U.S. Economic data. The Personal Consumption Expenditures (PCE) Index, the Federal Reserve’s preferred inflation gauge, reached its highest level since late 2023, hitting 3%. This data point further diminished hopes for an interest rate cut in March, adding to a cautious market sentiment.
Technical analysis suggests Bitcoin is navigating a critical juncture. The price action has remained within a defined range, with some analysts suggesting bears are currently in control. A key level to watch is the 200-week exponential moving average (EMA), currently around $68,330. Losing this level as support is often interpreted as a bearish signal, according to analysts like Rekt Capital.
However, We find signs of potential stabilization. Bitcoin has approached this key long-term trendline, and a weekly close above the 200-week EMA could signal a shift in momentum. Trader Castillo Trading identified a potential bullish target near $74,500, representing the 2025 yearly lows.
Adding to the nuanced outlook, a divergence is emerging between Bitcoin and gold, as observed by trader Michaël van de Poppe. He noted a bullish divergence in the daily Relative Strength Index (RSI) for Bitcoin compared to gold, suggesting a possible shift in capital flows. This divergence, if confirmed, could indicate a renewed interest in Bitcoin after a period where some analysts questioned its role as a “digital gold” alternative.
The potential for a rotation of capital from gold to Bitcoin would represent a significant shift in market sentiment. Earlier analyses had suggested Bitcoin was losing its appeal as a safe-haven asset following its decline from all-time highs reached in October 2025.
Despite the tariff-related news and inflation concerns, Bitcoin miners have been under financial pressure. Public miner treasuries shrank by 4.44% in February, to 115,335 BTC (approximately $7.4 billion as of February 20, 2026), signaling sustained stress within the mining sector. This selling pressure from miners adds another layer of complexity to the market dynamics.
Analysts at Coinbase have identified $82,000 as key resistance and $60,000 as critical support levels. The market is currently testing the $67,000 level, and the ability to break through the $82,000 resistance will be crucial for establishing a more bullish trajectory. The Hash Ribbon indicator is also nearing a signal of recovery after three months of stress, suggesting that the historic mining capitulation may be nearing its end.
The Supreme Court’s ruling on the tariffs, while potentially significant due to the $150 billion refund possibility, has been overshadowed by macroeconomic factors and technical analysis. The market’s focus remains on inflation data and the Federal Reserve’s monetary policy decisions, which will ultimately dictate the direction of risk assets, including Bitcoin.