 ▲ New York stocks clear uncertainty after the U.S. Supreme Court blocks Trump tariffs… Bitcoin surpasses $67,000 in a ‘joint rally’ / Gemini-generated image |
After the U.S. Supreme Court ruled President Donald Trump’s reciprocal tariff policy unlawful, lifting a major cloud of uncertainty that had weighed on the market, both the New York stock market and the cryptocurrency market are staging a relief rally.
As of 6:54 a.m. KST on the 21st, according to CoinMarketCap, the total cryptocurrency market capitalization rose 1.23% from the previous day to $2.33 trillion.
Bitcoin (BTC), the market leader, is showing strong momentum, trading at $67,773.16, up 1.25% over the past 24 hours. Ethereum (ETH), the second-largest cryptocurrency by market cap, also gained 1.31% to $1,973.22, approaching the key $2,000 level.
The upbeat sentiment in the digital asset market mirrored the overnight rally on Wall Street. On the 20th (local time), the Dow Jones Industrial Average rose 0.47%, the S&P 500 gained 0.69%, and the Nasdaq Composite climbed 0.90%, with all three major indexes closing higher. Investor sentiment was strongly boosted as the Supreme Court’s decision to halt President Trump’s reciprocal tariff policy resolved one of the market’s biggest uncertainties.
Although the U.S. advance estimate for fourth-quarter GDP growth last year came in at just 1.4% due to the impact of a federal government shutdown, and the December Personal Consumption Expenditures (PCE) price index rose 0.4% month-over-month, raising concerns about sticky inflation, relief over the tariff rollback outweighed these factors. In particular, as noted by Michael Brenner, a research analyst at FBB Capital Partners, expectations that potential tariff refund measures could effectively act as a powerful economic stimulus further fueled appetite for risk assets.
The altcoin market is also regaining momentum. Solana (SOL) rose 2.86% from the previous day to $84.41, while BNB gained 3.18% to $627.62, with major coins rebounding across the board. Even Dogecoin (DOGE), which had shown weakness the previous day, climbed 2.49% to $0.1003, reclaiming the $0.10 level. In contrast, XRP posted a more modest recovery, rising 0.88% to trade at $1.42.
Experts assess that the market has secured strong short-term rebound momentum after overcoming the major hurdle of “Trump tariff risk.” However, the outlook is not entirely optimistic. With persistently sticky inflation data, the probability of the Federal Reserve holding rates steady in June has surged to 47.9%, according to the CME FedWatch tool, leaving ongoing uncertainty over monetary policy. Therefore, for Bitcoin to decisively break through the $70,000 resistance level, it will likely require not only the one-off boost from the tariff rollback but also sustained institutional capital inflows and stabilization in macroeconomic indicators.
Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses incurred based on it. The content should be interpreted solely for informational purposes.