Crypto Markets Take a Hit Amidst Supreme Court Drama

The crypto world is feeling the heat as the Supreme Court kicks off a big case about President Trump's tariffs. This has sent shockwaves through the market, with major cryptocurrencies taking a nosedive. Bitcoin, the big boss of crypto, has dropped by 1% in just a day, now trading at $103, 435. 10. Ethereum, another heavyweight, has taken an even bigger hit, falling over 5% to $3, 362. 08. XRP and SOL aren't faring much better, with drops of 2. 5% and 3. 5% respectively. BNB is holding up slightly better, only losing 0. 5% of its value. This isn't just about the Supreme Court hearing, though. The market has been on a downward spiral for a month now, ever since Trump hinted at a massive 100% tariff on Chinese imports. Even though Trump and China's leader Xi Jinping had a chat and things seemed to cool down, the crypto market hasn't recovered. Adding to the gloom, spot Bitcoin ETFs have seen a huge outflow of $764. 25 million, and Ether ETFs have lost $335 million since early November. It's clear that investors are getting nervous. The Supreme Court is now deciding if Trump's tariffs are legal. Lower courts have already said he doesn't have the power to impose these tariffs under the International Emergency Economic Powers Act. Supporters call them "regulatory, " while opponents argue they're just "revenue-raising tariffs. " With conservative justices holding a majority, the outcome is uncertain.