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Bitcoin pops then drops as Supreme Court str
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Bitcoin pops then drops as Supreme Court strikes down Trump tariffs
Bitcoin pops then drops as Supreme Court strikes down Trump tariffs
As has been typical in crypto markets of late, even the most modest move higher was met with immediate selling.
By Krisztian Sandor, Helene Braun|Edited by Stephen Alpher
Updated Feb 20, 2026, 3:31 p.m. Published Feb 20, 2026, 3:20 p.m.
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Donald Trump points at the audience during a press conference at the White House.
What to know:
- The U.S. Supreme Court struck down President Trump's tariffs.
- The news quickly sent bitcoin higher by about 2% to above $68,000, but the gains proved fleeting, with BTC quickly returning to the $67,000 level.
- Earlier Friday, U.S. economic data showed slower than expected economic growth alongside higher than hoped inflation.
The U.S. Supreme Court on Friday struck down President Trump's tariff regime in a 6-3 decision.
"No President has invoked the statute to impose any tariffs, let alone tariffs of this magnitude and scope," the court ruling said.
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"That 'lack of historical precedent,' coupled with the 'breadth of authority' that the President now claims, suggests that the tariffs extend beyond the President’s 'legitimate reach.'"
Bitcoin knee-jerked about 2% higher on the news, rising past the $68,000 level. As has been typical in crypto lately, though, the gain was reversed within minutes, returning to just below $67,000 at the current time.
Crypto's fleeting gains stood in contrast to what's appearing more sustainable in stocks, with the Nasdaq rising 0.6% to a session high.
Stagflationary data
Earlier Friday, a batch of U.S. economic data showed signs of stagflationary impulses. The U.S. economy grew only a modest 1.4% in the final three months of 2025, the Commerce Department reported. Alongside core personal consumer expenditure prices rose 3% year-over-year, faster than the hoped for 2.9% and up from 2.8% previously.
On a yearly basis, the economy grew 2.2%, which is the slowest growth since Covid year 2020.
"Today’s economic data delivered a messy message of both hotter than expected inflation, and slower than anticipated growth," Art Hogan, chief market strategist at B. Riley Wealth, said. "The confusing message from today’s data confirms the current Fed bias to take their time with monetary policy."
Bitcoin NewsMarket WrapU.S. EconomytariffDonald TrumpBreaking News
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What next for XRP as volatility sinks to 2024 lows
Technical traders see a compression setup, with $1.39 as key support and $1.44 as near-term resistance that could open a move toward $1.50 to $1.62 if reclaimed.
What to know:
- XRP is consolidating around $1.42 as volatility falls to levels last seen before a major 2024 rally, prompting speculation that the current downtrend may be nearing exhaustion.
- Technical traders see a compression setup, with $1.39 as key support and $1.44 as near-term resistance that could open a move toward $1.50 to $1.62 if reclaimed.
- With volatility near prior cycle lows, analysts say the timing and direction of the next breakout will likely hinge on how long this low-volatility base-building phase can persist.
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