The US Supreme Court has declared most of the tariffs imposed by President Trump on foreign goods illegal, leading to a significant increase in Bitcoin’s price. The ruling clarified that the President had overstepped his authority by taking unauthorized actions in trade policies. Bitcoin, a well-known digital currency, often experiences price fluctuations influenced by political and economic conditions worldwide. The tariffs imposed during the Trump administration had created uncertainty in global trade, which immediately affected cryptocurrency prices. Following this decision, investors anticipate greater stability in global trade policies, sending positive signals to the crypto markets. The rise in Bitcoin’s price reflects market approval of the ruling and expectations that such measures will enhance investment opportunities in the future. The popularity of Bitcoin and other cryptocurrencies continues to grow as they are increasingly seen as alternatives to traditional financial systems, especially amid global economic uncertainties. However, the crypto market remains volatile, and investors are advised to exercise caution due to the direct impact of international trade and political decisions. This ruling is expected to lead to increased transparency and adherence to legal boundaries in US trade policies, benefiting not only cryptocurrencies but also other financial sectors.
Source: decrypt
