Bitcoin price drops below $65,000 as tariff uncertainty reaches boiling point

A recent Supreme Court ruling on tariffs has led to confusion over their impact on global markets, including Bitcoin. The court's decision narrowed the emergency-powers tariff pathway used by President Trump, but he cited a different statute to justify the 15% duty.

The uncertainty surrounding the tariffs has caused a reaction in the market, with Bitcoin's price dropping below $65,000 within 30 minutes of European markets opening. This is not the first time that tariffs have had an impact on cryptocurrency prices, but the recent Supreme Court ruling and Trump's pivot to a different statute have added a new layer of complexity.

The market is watching closely as the 150-day clock ticks down, with some analysts predicting that the uncertainty will lead to a full re-forecast of policy. The impact on inflation and growth is still unclear, but the hesitation in the market suggests that traders are waiting for more information before making their next move.