Crypto Market Braces for Critical 24 Hours as Two Major U.S. Events May Spark Volatility
The cryptocurrency market is entering a decisive phase. Over the next 24 hours, developments could significantly impact the prices of Bitcoin, Ethereum, and the broader digital asset space. All eyes are on two major events in the United States – the Supreme Court’s decision on Trump’s tariffs and the release of new unemployment data. There’s a lot at stake: total crypto market capitalization is hovering around $3.11 trillion, and any surprise could cause sharp market swings.
Supreme Court Ruling on Tariffs Could Shake Markets The first key event is the anticipated U.S. Supreme Court verdict regarding tariffs imposed by President Trump in 2025. These tariffs, ranging from 10% to 50%, were introduced under the “Liberation Day” campaign and targeted a broad spectrum of imported goods. The court will announce its decision today at 10:00 AM ET on whether these tariffs are legal. If ruled unlawful, the U.S. government may be pressured to refund part of the $600 billion already collected. Markets are reacting nervously, as these tariffs have been viewed as a growth stimulus for the domestic economy. Overturning them could weaken investor confidence and impact both stocks and crypto assets.
U.S. Unemployment Data Under Market Spotlight The second key event is the release of U.S. unemployment figures at 8:30 AM ET. A slight decrease is expected – from 4.6% to 4.5% – but even a tenth of a percentage point could have an outsized effect. Higher unemployment could spark renewed recession fears. Conversely, stronger-than-expected figures may dampen hopes for interest rate cuts. At the moment, markets are pricing in just a 13% chance of a Fed rate cut in January – strong jobs data could wipe out that expectation entirely.
Bitcoin and Ethereum Options Expiry Adds Another Layer of Tension On top of the two headline events, there’s a third factor in play – the expiration of major crypto options. At 8:00 AM UTC today, Bitcoin and Ethereum options worth more than $2.2 billion are set to expire. For Bitcoin, the expiring contracts amount to around $1.89 billion, with the “max pain” level – the price at which the most losses occur for option holders – at $90,000. BTC is currently trading just above that level at approximately $90,975.
Ethereum options worth roughly $396 million are also expiring, with the “max pain” point at $3,100. ETH is currently trading just above that threshold at around $3,117. With these three critical factors converging – the court ruling, jobs report, and options expiry – the next 24 hours could bring heightened volatility across the entire crypto market.
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