Bitcoin pops then drops as Supreme Court strikes down Trump tariffs

The U.S. Supreme Court on Friday struck down President Trump's tariff regime in a 6-3 decision. "No President has invoked the statute to impose any tariffs, let alone tariffs of this magnitude and scope," the court ruling said, adding that the "lack of historical precedent," coupled with the "breadth of authority" the President now claims, suggests the tariffs extend beyond the President’s "legitimate reach." Bitcoin knee-jerked about 2% higher on the news, rising past the $68,000 level.

As has been typical in crypto markets of late, even the most modest move higher was met with immediate selling, and the gain was reversed within minutes, returning to just below $67,000 at the current time. Crypto's fleeting gains stood in contrast to what's appearing more sustainable in stocks, with the Nasdaq rising 0.6% to a session high.

Earlier Friday, a batch of U.S. economic data showed signs of stagflationary impulses. The U.S. economy grew only a modest 1.4% in the final three months of 2025, the Commerce Department reported.

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