Bitcoin Rally After Trump Tariffs Blocked by US Court
The Bitcoin rally after Trump tariffs were blocked by a US federal court is gaining momentum. Analysts believe this legal win has shifted market sentiment and could push Bitcoin toward a new price target of $120,000.
According to Pav Hundal, lead analyst at Swyftx, the ruling dealt a critical blow to Trump’s trade agenda. “This was an epic mic drop moment,” he told Cointelegraph. “It’s going to accelerate capital flow into Bitcoin.”
The US Court of International Trade ruled on May 28 that Trump’s use of emergency powers to impose tariffs exceeded his authority. This effectively nullified much of the tariff framework imposed since April.
Why the Bitcoin Rally After Trump Tariffs Matters
The court’s decision has boosted investor optimism. “New all-time highs are imminent, and the momentum is largely irreversible,” Hundal noted. While Bitcoin currently trades around $107,750—down slightly from its $111,970 peak—analysts view this dip as temporary.
Even if the Trump administration files an appeal, Hundal said the damage is done: “This ruling blows a hole in trade talks and forces a repositioning across risk assets.”
ETF Inflows Support Bitcoin’s Momentum
Adding to the bullish case, Bitcoin ETFs recorded $2.75 billion in net inflows during the week ending May 23. Hundal emphasized, “A wall of money is entering Bitcoin through ETFs, corporations, and retail investors.”
He also pointed out that current derivatives and spot trading volumes indicate strong underlying demand, with $120K targets forming consensus across option markets.
Industry Forecasts Align with New Highs
Standard Chartered’s head of digital assets, Geoff Kendrick, echoed the optimism. In an internal note, he forecast Bitcoin reaching $120,000 in early 2025 and possibly $200,000 by year-end, fueled in part by stablecoin growth.
Earlier this year, Trump’s tariff policies were blamed for suppressing Bitcoin below $100,000. But as Hundal explained, “The trade war delayed the rally—not destroyed it. The trend remains up.”
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