Bitcoin Price Crashes Nearly $4,000 in Two Hour Market Sell-Off

The bitcoin price plunged

On top of this, the U.S. Supreme Court is set to rule on a closely watched case that could determine whether President Donald Trump had the authority to impose sweeping tariffs under emergency powers, a decision with major implications for trade policy and federal revenues.

At issue is Trump’s use of the International Emergency Economic Powers Act (IEEPA) to declare trade deficits a national emergency and levy broad tariffs, including a baseline 10% duty on most imports. 

A ruling against Trump could force the government to refund more than $100 billion in tariffs already collected, undermining funding assumptions tied to defense and budget plans, according to reports from Reuters and the Tax Foundation.

If the court upholds Trump’s authority, existing tariffs would remain in place and future measures — such as those duties on European goods tied to Greenland — could proceed. Importers are already preparing for both outcomes, with many keeping shipments “unliquidated” to preserve potential refund claims. 

The bitcoin price is down roughly 3% from its seven-day high of $95,468, and trades within a tight range above its seven-day low of $92,284. The asset has a circulating supply of 19.98 million BTC, with a maximum supply capped at 21 million.

The global Bitcoin market capitalization stands at approximately $1.85 trillion, down about 2% on the day, while 24-hour trading volume reached $32 billion.

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