Tariffs Supreme Court ruling impact on crypto prices: Cryptocurrency markets moved higher on Friday as traders reacted to a delay from the US Supreme Court on a key decision tied to US president Donald Trump’s tariff policy, easing some near-term macro uncertainty.
Bitcoin, Ethereum and XRP jump as tariffs Supreme Court decision is delayed
Bitcoin led the move, surging more than $2,000 in less than an hour and briefly trading close to $92,000, as per a report. Ethereum followed with steady gains around $3,120, while XRP climbed above $2.10, continuing to outperform many other major cryptocurrencies, as per a Coinpedia report.
US Supreme Court postpones tariff ruling, lifts total crypto market cap above $3.1 trillion
The rally spread across the broader market. Total cryptocurrency market capitalization rose to about $3.13 trillion, up more than 1% on the day, as per the Coinpedia report. Other large-cap tokens, including BNB and Solana, also posted gains, even as overall market sentiment indicators remained neutral.
Also read: Can Social Security be saved before 2033? Senate candidate pitches new fix
Short liquidations spike after Supreme Court tariffs delay
The sharp upswing triggered forced liquidations in derivatives markets, with data showing that roughly $39 million in short positions were wiped out as prices moved quickly higher.
Why the Supreme Court ruling on tariffs matters for risk assets
The price action came after the Supreme Court said it would delay issuing a ruling on January 9 in a closely watched legal challenge to global tariffs imposed by Trump using emergency powers. The postponement leaves the future of the tariffs uncertain for now.
Also read: Why tax refunds could shrink for millions of Americans as debt collection resumes in January
Kevin Hassett outlines backup plans ahead of tariff ruling
White House National Economic Council Director Kevin Hassett said senior administration officials have discussed backup legal options if the court ultimately blocks the tariffs, as per the Coinpedia report. During an interview with CNBC, he noted that other laws could be used to maintain similar trade measures if necessary.
Hassett said that, “There are a lot of other legal authorities that can reproduce the deals that we’ve made with other countries, and can do so basically immediately,” adding, “And so our expectation is that we’re going to win, and if we don’t win, then we know that we’ve got other tools that we could use that get us to the same place,” as quoted by Coinpedia.
FAQs
Why did crypto prices rise today?
Prices moved higher after the US Supreme Court delayed a key decision on tariffs, reducing near-term uncertainty.
How much did Bitcoin gain during the rally?
Bitcoin surged more than $2,000 in under an hour, briefly trading near $92,000.