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Cryptocurrency markets demonstrated strength on Friday following US President Donald Trump’s announcement of a new universal 10% tariff on imports, despite the policy coming after a Supreme Court ruling that blocked his previous invocation of emergency economic powers.
Key Takeaways:
- Crypto values remained stable in light of Trump’s declaration of a new 10% universal tariff.
- The Supreme Court halted the use of emergency powers, prompting the administration to pivot to alternative trade regulations.
- In contrast to previous trade disputes, markets responded cautiously, with no significant selloff in Bitcoin or Ether.
During the session, Bitcoin traded close to $67,800, while Ether remained around $1,960, based on data from CoinMarketCap.
The overall crypto landscape stayed stable, with the total market capitalization of digital assets around $2.33 trillion, and sentiment indicators continued to indicate caution rather than alarm.
Trump Implements 10% Global Tariff Using New Legal Framework Following Court Decision
Trump strongly criticized the court’s decision at a press conference, labeling it “ridiculous,” and stated that his administration would move forward using alternative legal frameworks.
“Effective immediately… I will sign an order to impose a 10% Global tariff under Section 122 in addition to our standard tariffs already in place,” he stated, noting that national security tariffs under Sections 232 and 301 would still apply.
The Supreme Court previously determined that the White House did not have the authority to impose tariffs under the International Emergency Economic Powers Act (IEEPA) during peacetime.
In its ruling, the court highlighted that the Constitution assigns Congress, not the executive branch, the power to impose duties and taxes, pointing out that no prior administration had utilized the statute to implement tariffs of a similar magnitude.
Historically, tariffs have unsettled risk assets, including stocks and digital currencies, as trade conflicts typically tighten liquidity expectations and obscure economic forecasts.
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Previous tariff announcements from Washington have frequently led to swift selloffs across global markets.
Gavin Newsom isn’t mincing words:
“Trump owes families their money back. $1,751 per household.”
Trump illegally taxed working Americans through tariffs.
Took hundreds of billions. Got caught.
Got ruled against.
Now he needs to return every dollar.
No excuses. No delays. pic.twitter.com/sKvIiX4RJ0— Brian Allen (@allenanalysis) February 20, 2026
This time, however, crypto traders seemed to adopt a measured approach. Bitcoin exhibited only slight intraday fluctuations, and Ethereum recorded minor gains over 24 hours, while major tokens like XRP and BNB also experienced modest movements.
Trump had previously enacted tariffs of 25% on specific imports from Canada and Mexico and 10% on goods from China, citing national security and trade deficit issues.
The court dismissed those justifications under the emergency statute, but the administration’s new directive relies on established trade laws, including the Trade Expansion Act of 1962 and the Trade Act of 1974.
Bitcoin Loses 25,000 Millionaire Addresses Under Trump
As reported, Bitcoin has lost approximately 25,000 millionaire addresses in the year since Donald Trump returned to the White House, even as US policy shifted towards a more crypto-friendly approach.
Blockchain data indicates that the number of addresses holding at least $1 million in BTC decreased by about 16% year over year, suggesting that regulatory optimism has not resulted in sustained on-chain wealth growth.
The decline was less pronounced among the largest holders. Addresses with more than $10 million in Bitcoin fell by roughly 12.5%, indicating that top-tier investors were better positioned to endure price volatility, while wallets near the millionaire threshold were more susceptible to market fluctuations.
A significant portion of the increase in Bitcoin millionaire addresses occurred prior to Trump taking office, driven by a late-2024 rally fueled by election-related optimism and expectations of deregulation.
The post Bitcoin, Ether Hold Strong as Trump Announces Additional Universal 10% Tariff appeared first on Cryptonews.
