Controversial Trump Tariffs Back On as Appeals Court Halts Trade Court Ruling

Controversial Trump Tariffs Back On! US Appeals Court Gives Government More Time to Fight

Just hours after a trade court declared President Donald Trump’s controversial tariffs unlawful, the U.S. appeals court temporarily reinstated them on Thursday, causing Bitcoin to drop over 3%.

The judgments and the permanent injunctions entered by the Court of International Trade in these cases are temporarily stayed until further notice while this court considers the motions papers,

the U.S. Court of Appeals for the Federal Circuit

The government has more time to pursue its legal fight due to the stay, which combined two pending appeals. It enables officials to contest a previous decision by the U.S. Court of International Trade that declared tariffs imposed under the 1977 International Emergency Economic Powers Act to be unconstitutional.

Bitcoin Drops Slightly, But Market Confidence Holds with Majority Predicting Upside

According to CoinMarketCap, Bitcoin fell 1.43% to a daily low below $106,000, but it has still increased 11.5% over the previous month. 51% of respondents predicted that Bitcoin will still be worth more than $106,000 by June 1 on Myriad, a decentralized prediction market platform introduced by Decrypt’s parent firm, DASTAN.

This recent court ruling is just another brick in the wall of economic uncertainty. Crypto’s softness right now is less about a drop in demand and more about it all just being uncertainty-adjusted—policy risk, geopolitical tension, and over-the-top positioning,

Tracy Jin, COO of crypto exchange MEXC

Bitcoin ETFs See Largest Outflow Since March Amid Appeals Court Ruling

The appeals court’s intervention coincided with the end of a 10-day run of net inflows of $4.26 billion into U.S. spot Bitcoin ETFs. According to Coinglass statistics, the 11 funds experienced the worst single-day outflow since March 11 on Thursday, with net outflows of about $347 million. Jin maintained that the significant spot outflows from Bitcoin ETFs should be viewed as institutional repricing taking place in real-time rather than as a panic.

The important thing to see this dip is in the context of the broader economy. ETF flows are primarily funded by retail, and this is a reflection of the retail sentiment.

Ganesh Mahidhar, investment professional at Further Ventures

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