Analyst: The court's "halt" on Trump's tariffs will boost Bitcoin to break through $120,000

Gate News bot news, Swyftx chief analyst Pav Hundal stated that after the U.S. federal court blocked most of President Trump's tariffs, Bitcoin is expected to rebound to $120,000, "The trade court's ruling is an epic blow, and it will enhance Bitcoin's pump momentum."

The U.S. International Trade Court ruled on the 28th to suspend the implementation of the tariff policy announced by the Trump administration on April 2. The court determined that the president does not have the authority to impose comprehensive tariffs on almost all trading partners. Granting the president "unrestricted tariff powers" by Congress is unconstitutional. Congress established limits in the International Emergency Economic Powers Act on when and how the president can impose tariffs.

Hundal stated that this decision will have a domino effect on Bitcoin prices and believes that "new historical highs are just around the corner, and this momentum is basically irreversible right now."

According to reports, the Trump administration has appealed the court's decision. Hundal believes that regardless of whether the ruling provides new reasons for tariffs, market sentiment has already changed. "In any case, this will impact trade negotiations, which means we may see significant market repositioning."

Source: Cointelegraph