1h ago
Bitcoin drops 5% to $64,000 as $175B Trump tariff refund shock follows Feb. 20 Supreme Court ruling
On Feb. 20, the US Supreme Court struck down Donald Trump's emergency tariffs under IEEPA, putting more than $175 billion in potential refund exposure into play and leaving the refund process unclear. Bitcoin quickly fell almost 5% to around $64,000 as desks, facing uncertainty over cash flows and Customs collection mechanics, sold liquid assets to raise dollars and cut risk.