Bitcoin is trading near $90,000, extending a fall-off after spending several days above $92,000. The crypto now faces a fresh macro test as markets brace for a U.S. Supreme Court decision that could land Friday on the legality of President Donald Trump’s global tariffs.

The case centers on tariffs imposed in early 2025 under the International Emergency Economic Powers Act, a 1977 statute typically used for sanctions during national emergencies. 

Trump used the law to justify “Liberation Day” tariffs ranging from 10% to 50% on global imports, alongside targeted duties on China, Canada, and Mexico tied to fentanyl trafficking concerns. 

His administration argued that…

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