Crypto prices rally as Supreme Court strikes down Trump's broad tariff regime
Crypto prices jumped up on Friday morning following news that the U.S. Supreme Court struck down President Donald Trump’s broad tariff regime.
Bitcoin (BTC) immediately jumped 1.75% to about $67,769, according to The Block's price page. Other crypto majors are also in the green. Ethereum (ETH) is trading around $1,960, up over 2%, Solana (SOL) at $84 is up over 4%, while XRP, which has a large retail trading base, is up 1.55% to $1.42, according to The Block's price data.
Crypto stocks also rallied, with Bitcoin infrastructure-focused Fold leading the pack, up over 4.6%. Coinbase (COIN), often seen as a bellwether stock for the crypto industry, is up 3.52% to $171.78 at the time of writing.
The Supreme Court ruled on Friday that Trump lacked the authority to impose sweeping global tariffs. Restrictive trade policies, which some economists said negatively affected the U.S. and global economy, will likely now have to be renegotiated.
Trump has previously said it would be a "complete mess" to unwind his tariff agenda, imposed under the provision of the International Emergency Economic Powers Act (IEEPA). Though some experts suggest it could be a boon for crypto.
21shares Head of Macro Stephen Coltman noted "a negative ruling on tariffs could potentially hurt Treasuries and the dollar, while favoring stocks and crypto."
"Bitcoin has been trading within a narrow range for the past two weeks between 65k and 70k, and bulls will be wanting to see 65k hold as a floor," Coltman said earlier Friday. "Conversely, a sustained move above 70k would indicate the recent selling may have exhausted itself."
It's a point echoed by VanEck Head of Research Matthew Sigel, who noted reduced tariff revenues would mean "money printing and debasement will accelerate." Bitcoin is often said to be a hedge against U.S. inflationary monetary policy.
Cato estimated 60% of total tariff revenue in 2025 stemmed from those imposed under the IEEPA.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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