Trump Hikes Tariffs to 15% Despite Supreme Court Ruling — Bitcoin Slips Below $67,000

Bitcoin experienced renewed selling pressure on Saturday after U.S. President Donald Trump announced an escalation of worldwide tariffs to 15%, blatantly defying a Supreme Court ruling that invalidated his earlier trade actions just one day prior.

The world’s largest cryptocurrency dropped to approximately $66,800, erasing brief gains made on Friday when the Supreme Court decision initially buoyed markets. Ethereum also declined nearly 3%, trading around $2,044, while major altcoins followed suit in a broad risk-off move across digital assets.

TL;DR

• Trump announced a 15% worldwide tariff on imported goods, up from the previous 10%
• The escalation came despite the Supreme Court ruling his earlier tariffs illegal under the International Emergency Economic Powers Act
• Bitcoin slipped to approximately $66,800 after briefly rallying above $67,000 on the court decision
• Ethereum dropped 3% to around $2,044 amid broad market weakness
• The move deepened a months-long selloff that has seen BTC fall over 47% from its October 2025 all-time high of $126,000

Supreme Court Ruling, Then Immediate Defiance

On Thursday, February 20, the U.S. Supreme Court delivered a landmark ruling declaring Trump’s tariff regime illegal, arguing that the administration had exceeded its authority under the International Emergency Economic Powers Act (IEEPA). The decision briefly sent Bitcoin above $67,000 as traders anticipated a reduction in trade-related economic uncertainty.

However, the optimism was short-lived. In a press conference at the White House on Saturday, Trump announced the new 15% across-the-board tariff, representing a direct escalation from the 10% rate that had been in effect. The move appeared to be a deliberate challenge to the judicial branch, raising fears of a constitutional crisis.

“The administration is essentially daring the courts to enforce their ruling,” said Rebecca Morrison, a trade policy analyst at the Peterson Institute. “Markets hate this kind of uncertainty, and crypto markets — which trade 24/7 — are absorbing the shock in real time.”

Crypto Markets Extend Brutal February Selloff

The tariff escalation is the latest blow to a crypto market already reeling from one of its worst months in years. Bitcoin has plummeted from over $95,000 at the start of January to below $67,000, wiping out all gains since Trump’s re-election in November 2024.

Total liquidations across the crypto market have exceeded $3 billion in February alone, according to data from CoinGlass. The crypto Fear and Greed Index dropped to 14 — deep in “Extreme Fear” territory — levels not seen since the FTX collapse in late 2022.

The selloff has been driven by a confluence of factors: Trump’s escalating trade wars, a collapse in tech stocks led by Microsoft’s earnings miss, and massive institutional selling through Bitcoin ETFs. BlackRock’s Bitcoin Trust (IBIT) alone saw $318 million in outflows in a single day earlier this month, signaling a fundamental shift from accumulation to risk-off behavior among institutional investors.

Broader Market Impact

The tariff shock has not been limited to crypto. Global equity markets have been under pressure throughout February, with the S&P 500 declining for three consecutive weeks. Gold, traditionally a safe-haven asset, has surged to near-record levels as investors seek refuge from the volatility.

Solana (SOL) dropped 5.4% to trade near $112, while XRP slipped 3.8% to approximately $1.85. The total cryptocurrency market capitalization fell below $2.2 trillion, a level not seen since before the spot Bitcoin ETF approvals in early 2024.

Why This Matters

Trump’s willingness to defy the Supreme Court on tariffs represents an unprecedented escalation in executive power that has far-reaching implications for all risk assets, including Bitcoin. The crypto market’s reaction — immediate selling on a Saturday — demonstrates how deeply entangled digital assets have become with macroeconomic policy.

For investors, the situation presents a difficult calculus. Bitcoin is now trading at roughly half its all-time high, which historically has represented a compelling buying opportunity. However, the combination of a constitutional crisis, escalating trade wars, and institutional ETF selling creates a uniquely hostile environment.

Bernstein analysts maintain their $150,000 year-end Bitcoin price target, arguing that the four-year cycle pattern remains intact and institutional demand will ultimately drive adoption. But with BTC now below its 365-day moving average and ETF investors sitting on an average cost basis near $84,000 — some $17,000 above the current price — the short-term outlook remains challenging.

The key watch for the coming week will be whether the administration backs down in the face of the Supreme Court ruling or continues to escalate, and how markets respond to what could become the most significant constitutional crisis in modern American history.

Disclaimer: This article is for informational purposes only and does not constitute financial advice.