U.S. tariff uncertainty is beginning to affect risk markets, and crypto isn’t isolated from it.

With a pending Supreme Court decision on tariff rules, policy direction remains unclear. The growing complexity of the U.S. tariff system means any legal change could trigger fast adjustments across financial markets.

Bitcoin and Ethereum, supported earlier by institutional inflows, ETFs, and stablecoin usage, are now in a consolidation phase. This looks more like cautious positioning than structural weakness as macro and regulatory factors remain unresolved.

For now, crypto is moving in line with broader markets. Clarity on policy will likely be a key driver going forward.

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