Crypto: Bitcoin Ignores Us Supreme Court Trump Tariff Strike Amid Talk Of...

Bitcoin stayed rangebound within a "downward trajectory" as the Supreme Court concluded that some US trade tariffs were illegal and liable for a refund.

Bitcoin (BTC) saw choppy price action after Friday’s Wall Street open as markets reacted to the US Supreme Court decision on President Donald Trump’s trade tariffs.

The US Supreme Court rules that certain US tariffs are illegal, sparking a modest risk-asset response.

US inflation data further cuts market hopes of a March interest-rate cut.

Bitcoin price action stays rooted in a firm range, with consensus seeing bears “in control.”

Data from TradingView showed $67,000 forming a focus for BTC price action, while US stocks gained.

The overall risk-asset response was muted however, as the Supreme Court ruled that some tariffs remained legal. In the firing line were those implemented under the International Emergency Economic Powers Act (IEEPA).

“IEEPA does not authorize the President to impose tariffs,” the Court wrote in its 170-page ruling.

Despite this, talk quickly surfaced over triff refunds, with trading resource The Kobeissi Letter putting the potential total at $150 billion.

“Today's Supreme Court ruling will be referenced for decades to come,” it added in a thread on X.

Source: CoinTelegraph