- Bitcoin briefly rose then fell nearly 1% after Trump raised the planned global tariff to 15% in a Truth Social post
- The tariff move followed a Supreme Court ruling against earlier IEEPA-based actions, while ether also declined to $1,980
The price of bitcoin showed a modest decline on Saturday after U.S. President Donald Trump announced a further increase in global tariffs. The move came despite a recent U.S. Supreme Court ruling that struck down earlier trade measures issued under the International Emergency Economic Powers Act (IEEPA). Market participants reacted quickly to the new tariff announcement, with major cryptocurrencies, including bitcoin and ether, moving lower following an initial brief rise.
Trump’s tariff escalation and Supreme Court backdrop
The latest market reaction followed a new statement from President Trump on the social media platform Truth Social. In his post, he criticized the Supreme Court’s recent decision, characterizing the ruling as “anti-American.” That decision had invalidated trade actions he previously took using powers claimed under the IEEPA, concluding that he lacked authority to impose tariffs in the way he had done earlier in the year.
In response to the court’s ruling, Trump had already pledged a 10% global tariff, describing it as a new measure that would comply with legal limits. On Saturday, he moved to raise that figure again, declaring that the previously announced worldwide tariff would now be set at 15% with immediate effect. He also stated that over “the next short number of months,” his administration would define and implement “new and legally permissible Tariffs,” signaling a continued focus on trade restrictions despite judicial pushback.
This sequence of events positioned the White House and the Supreme Court at odds over the scope of presidential power under the IEEPA. While the Court’s decision curtailed earlier actions, the administration is pressing ahead with fresh tariffs, framed as being adjusted to fit within the boundaries set by the ruling.
Market reaction in bitcoin and ether prices
Financial markets, and the digital asset sector in particular, appeared sensitive to the sudden change in trade policy messaging. Following Trump’s post, bitcoin initially saw a small rise of about 0.5%, suggesting traders were rapidly recalibrating expectations in light of the latest tariff news. That brief gain was short-lived. The largest cryptocurrency then reversed course, sliding to a loss of nearly 1% from its earlier level as the implications of the higher global tariff began to filter through.
After the volatility, bitcoin stabilized at a trading price of $68,000. The pattern highlighted how quickly sentiment can shift in response to political and policy announcements, especially those tied to international trade and economic uncertainty. Ether, the second-largest cryptocurrency by market value, also weakened. Its price fell 0.45% after the announcement, bringing it to $1,980.
The immediate move in both bitcoin and ether underscored the market’s sensitivity to developments that could affect global growth, cross-border trade, and investor risk appetite. The rapid swing from a modest intraday uptick to a decline indicated that traders may have first reacted to the headline before reassessing the potential economic impact of a 15% worldwide tariff.
Broader implications for bitcoin and global trade tensions
The decision to push ahead with a higher global tariff rate, even after the Supreme Court’s rejection of earlier IEEPA-based measures, added a new layer of uncertainty to the policy landscape. For digital asset traders, the announcement appeared to reinforce the linkage between macroeconomic policy shifts and cryptocurrency price movements. Bitcoin’s quick reaction, first higher and then lower, reflected the balancing act between its role as a speculative asset and a potential hedge against economic disruption.
Trump’s indication that his administration will spend the coming months crafting “new and legally permissible Tariffs” suggests ongoing adjustments to trade policy rather than a retreat. This ongoing process could keep markets on alert, particularly if further announcements arrive with little warning. While the details of future tariffs remain undefined, the current increase to a 15% global rate marks a significant escalation from the previously floated 10% level.
For bitcoin, the episode served as another example of how external policy shocks—especially those involving major economies and trade regimes—can quickly influence pricing. The reaction in ether mirrored this dynamic, showing that the broader digital asset market is closely attuned to shifts in the global economic backdrop, even when the legal and political disputes driving those shifts are still unfolding.
Conclusion
Bitcoin slipped after President Trump raised the planned global tariff from 10% to 15%, a move announced shortly after the Supreme Court ruled against his earlier IEEPA-based trade actions. The cryptocurrency first gained about 0.5% before dropping nearly 1%, settling at $68,000, while ether declined 0.45% to $1,980. With the administration now preparing a new framework for tariffs over the coming months, markets, including digital assets, are likely to keep tracking how trade policy evolves in the wake of the Court’s decision.
Disclaimer
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from any company.
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