A stunning court ruling just ignited fresh fire under Bitcoin’s engines. On May 28th, the U.S. Court of International Trade blocked most tariffs imposed by President Donald Trump. Judges declared Trump overstepped his authority using emergency powers. Consequently, crypto markets instantly buzzed with anticipation. Leading analysts now predict a dramatic Bitcoin surge, potentially reaching $120,000. “The trade court decision was an epic mic drop,” declared Pav Hundal, lead analyst at Swyftx. He confirmed this will massively intensify Bitcoin’s momentum.
“Wall of Money” Forecast for Bitcoin
Hundal sees a powerful wave of capital flooding into Bitcoin. Corporations, spot ETFs, and retail investors are driving this influx. Significantly, U.S. spot Bitcoin ETFs attracted $2.75 billion just last week. This court order accelerates a major shift into risky assets. “A wall of money is coming into Bitcoin,” Hundal said. Furthermore, he insists all data signals a solid demand floor for spot Bitcoin. Options markets strongly support a $120,000 target.
Market Changes after Ruling
Trump initially signed broad “reciprocal tariffs” on April 2nd, starting at 10%. These levies targeted nearly every country. Earlier February tariffs on Canada, Mexico, and China heavily impacted crypto. They helped push Bitcoin below $100,000. Prices stayed under that key level until May 8th. Broader economic uncertainty intensified during that period. However, the court’s intervention changes the game. “It blows a hole in trade talks either way,” Hundal stated. Therefore, he expects significant market repositioning now.
Also read: BlackRock In-House Fund Increases Bitcoin exposure by 25%
Short-Term Gains
Market reactions were swiftly positive following the ruling. U.S. futures jumped approximately 2%. The U.S. dollar also strengthened. Analysts link the earlier April 2nd tariff announcement directly to a Bitcoin dip. Prices fell from $110,000 to $106,000 then. Short-term recovery seems likely with renewed confidence. Yet, uncertainty persists. The Trump administration immediately appealed the court’s decision. Hundal acknowledges the market sentiment shift is probably irreversible regardless. Nonetheless, this legal battle could reach higher courts. Traders face potential headline-driven volatility ahead.
$120K Target and Support
Bitcoin currently trades around $107,750, slightly below its May 22nd peak of $111,970. Despite this dip, optimism reigns. Hundal firmly believes new all-time highs are imminent. He describes the current momentum as largely unstoppable. “The trade war likely delayed a meaningful greed rally, but it didn’t bury it. The trend is higher,” he asserted. Furthermore, Geoff Kendrick of Standard Chartered also projects Bitcoin hitting $120,000 by mid-2025. He ultimately sees $200,000 by year-end, fuelled partly by stablecoins.
Traders React: “Green Candles” Incoming?
The crypto community reacted swiftly online. Analyst Bitcoin Ranchy pondered the immediate market impact: “So Trump tariffs are illegal? Does that mean we get green candles all around tomorrow?” Indeed, sentiment among traders appears bullish. Some X users, like @Steph_iscrypto, viewed the block as outright positive for crypto assets. Others, however, like @AlvaApp, cautioned about lingering volatility. Legal power struggles could sustain market choppiness. Still, the dominant narrative now points upwards. As BitMEX co-founder Arthur Hayes simply advised: “Buy everything round dos.” The path seems cleared for Bitcoin’s next major leap.
Written By Fazal Ul Vahab C H
