The U.S. Supreme Court ruling that President Trump’s reciprocal tariffs are illegal has caused significant turbulence in the financial markets. Following this decision, the main cryptocurrency, Bitcoin, experienced a downward trend.
Bitcoin’s price at 3:04 PM Korea time on the 23rd was $65,126.60, down 3.68% from the previous day. Notably, during the morning session, the price fell below the $65,000 mark, briefly dropping to $64,416.82. This decline was driven by the Supreme Court’s ruling and the Trump administration’s announcement of new “global tariffs,” which led investors to sell off amid uncertainty. Additionally, escalating military tensions between Iran and the U.S. further pressured Bitcoin downward.
On the other hand, the Supreme Court’s decision boosted gold prices. That afternoon, gold rose approximately 0.97% from the previous day, reaching $5,157.12 per ounce. Analysts believe this is a combined effect of a weakening dollar triggered by the ruling and increased geopolitical crisis concerns. According to Bloomberg, the destabilization of tariff agreements undermined the dollar’s value, contributing to the rise in gold prices.
Meanwhile, copper prices also showed an upward trend. Copper futures on the London Metal Exchange increased by 1.49% from the previous trading day, reaching $13,000 per ton. The reduction in tariff rates between the U.S. and China is cited as a reason for the rise in copper prices.
These developments could intensify volatility in global markets. Moving forward, the financial markets may experience new waves of fluctuation depending on the policy directions of the Trump administration. Therefore, investors should be prepared for market volatility.
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