$BTC Bitcoin has surged to $120,000 after a U.S. court blocked Trump's tariffs

Pav Hundal claims that "a flood of money" is coming into Bitcoin after a U.S. court blocked Donald Trump's tariffs.



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Bitcoin is set to surge towards $120,000 after a U.S. federal court blocked most of President Donald Trump's tariffs, according to a cryptocurrency analyst.

"The trade court's decision was an epic blow and is going to intensify the momentum behind Bitcoin," said Pav Hundal, chief analyst at Swyftx, to Cointelegraph.

It is reported that the U.S. International Trade Court prevented Trump from imposing his tariffs on May 28, arguing that he had overstepped his authority.

The court "opens a gap in trade negotiations"

Hundal stated that the decision would have a domino effect on the price of Bitcoin and believes that "new all-time highs are on the horizon and that, at this stage, the momentum is largely irreversible".

The current all-time high of Bitcoin

BTC

€96,374

, at $111,970, was reached on May 22, but has since fallen to around $107,750, according to data.