Bitcoin Plunges Amidst Appeals Court Decision on Tariffs

The U.S. Court of Appeals reinstated tariffs previously reversed, resulting in a decline for Bitcoin on May 30th, 2023. This court decision triggered heightened market volatility, impacting not only cryptocurrencies but also broader economic uncertainty. The ruling re-established tariffs introduced by former President Donald Trump as part of trade imbalances, with significant implications for global markets.