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Bitcoin extended its decline on Thursday, pressured by sustained profit-taking after notching record highs earlier this week, while a favorable U.S. court ruling on trade tariffs failed to lift sentiment across the cryptocurrency space.
The world’s largest digital asset fell 1.2% to $107,721.6 by 01:43 ET (05:43 GMT), marking a third consecutive session of losses following its brief rally above $110,000. The pullback comes despite positive regulatory developments and a high-profile institutional purchase.
GameStop’s Bitcoin Bet Fails to Move the Needle
GameStop Corp (NYSE:GME) recently revealed a $500 million Bitcoin acquisition, a move that would typically stir bullish sentiment. However, the announcement did little to stem the sell-off, as traders locked in profits after Bitcoin’s blistering run earlier this month.
Court Blocks Trump Tariffs, But Crypto Remains Muted
Bitcoin, often seen as a hedge against geopolitical and economic instability, showed little reaction to a U.S. federal court ruling that President Donald Trump had overstepped his authority in imposing sweeping tariffs. The decision spurred a rally in broader risk assets, but cryptocurrencies failed to catch the tailwind.
The ruling mandates Trump comply within 10 days, although the White House has already filed an appeal, introducing renewed uncertainty around the trajectory of U.S. trade policy.
While crypto has benefited in the past from trade-related volatility, Bitcoin’s recent gains have been more closely tied to regulatory optimism than to tariff-driven market fear.
Trump’s Crypto Ties Raise Eyebrows Amid Growing Influence
U.S. Vice President JD Vance added fuel to the pro-crypto narrative at the Bitcoin 2025 Conference in Las Vegas, advocating for wider Bitcoin adoption as a strategic counterweight to China’s anti-crypto stance. He also praised the Trump administration’s launch of a national Bitcoin reserve.
However, the administration’s crypto involvement is not without controversy. Accusations of conflicts of interest have surfaced, particularly surrounding the president’s active promotion of the $TRUMP memecoin, which recently became the focus of a White House dinner with top holders.
Altcoins Mixed as Market Momentum Cools
Most altcoins mirrored Bitcoin’s decline. XRP, Solana, and Cardano fell between 0.4% and 2%, underlining a lack of broader crypto enthusiasm despite easing macro pressures.
Ethereum was the notable outlier, rising 3.1% to $2,722.26 on renewed buying interest. Among meme coins, Dogecoin edged up 0.3%, while $TRUMP dropped 3% following the underwhelming outcome of the president’s investor dinner.
With Bitcoin’s regulatory tailwinds now priced in and broader macro signals mixed, crypto traders appear to be rotating cautiously—balancing short-term risk appetite with longer-term uncertainty over regulation and policy.
