The US Supreme Court has overturned tariffs imposed by Donald Trump's administration.
The crypto market reacted cautiously: Bitcoin briefly rose above $68,000, while altcoins slightly regained their positions.
The fear and greed index dropped to 8 points, which corresponds to "extreme fear."
On February 20, 2026, the US Supreme Court struck down President Donald Trump’s sweeping global tariffs. The cryptocurrency market did not react strongly to the news. Bitcoin briefly traded above $68,000, but later retreated to previous levels.
Altcoins also did not show much momentum. In particular, the top 10 cryptocurrencies by market capitalization showed growth of about 1% per day.
Separately, the mood of market participants is highlighted by the fear and greed index: as of February 21, 2026, it dropped to 8 points, indicating "extreme fear."
It should be noted that this is about the abolition of tariffs that Trump introduced on April 2, 2025. They provided for fees of 10-50% on imports from most countries.
The crypto market reacted differently then. First, the Bitcoin price instantly jumped to $88,500, then fell. Within a week, the asset had dropped to $75,000.
Details of the court decision
The US Supreme Court ruled by a majority of 6 to 3 that Trump had exceeded his authority by using the federal emergency powers law as the legal basis for imposing global “reciprocal” tariffs, as well as individual import duties.
The court did not specify how much importers could claim back the fees. Bloomberg noted that the issue was left to the lower courts. If the compensation is fully granted, the total amount of payments could reach $170 billion, according to estimates.
The court's ruling applies to tariffs on goods from Canada, Mexico and China. The ruling also calls into question some of the targeted tariffs imposed under the Emergency Economic Powers Act (IEEPA), including on goods from Brazil and India, Bloomberg reported.
What market participants say
21Shares Head of Macroeconomics Steven Coltman suggested in a commentary on The Block that a court ruling negative for tariffs could potentially pressure Treasuries and the dollar, but be favorable for stocks and cryptocurrencies.
Similar logic was voiced by VanEck head of research Matthew Siegel, who linked the potential decline in customs revenues to the risk of “accelerating money printing and currency depreciation.”
Goldman Sachs, for its part, said the Supreme Court's decision does not in itself mean the end of tariff policy. The bank believes the administration may try to use alternative legal mechanisms to impose restrictions.
Trump's reaction
Donald Trump called the Supreme Court's decision absurd. He also announced his intention to sign a new document that would provide for a global tariff of 10%, as well as initiate a series of investigations to protect against unfair trade.