Bitcoin may surge to $120,000 following Trump's tariff ruling

According to Pav Hundal, Swyftx's lead market analyst, the US Court of International Trade's decision to block Trump's tariffs could be a game-changer for Bitcoin. This ruling could potentially drive the crypto's price to $120,000 and reinforce its viability as a safe-haven asset.

The court's ruling is expected to have a ripple effect on Bitcoin's quotes, leading to their new all-time highs, the expert says. The token has gone down 2.19% this week, but the decision may be the catalyst it needs to start moving upwards again.

The tariffs that previously caused Bitcoin to dip below the key psychological threshold of $100,000 are now seen as an obstacle to achieving broader financial stability. This shift in sentiment finds reflection in the increased inflows into BTC exchange-traded funds (ETFs), which totaled $2.75 billion last week.

Standard Chartered financial expert Jeff Kendrick predicts that Bitcoin's price could reach $120,000 by mid-2025, with the potential to climb up to $200,000 by year's end.