Crypto Market Update: Bitcoin and Ether Prices Surge Following Court Ruling on Trump's Tariffs

By Omkar Godbole (All times ET unless stated otherwise) The cryptocurrency market experienced a significant upswing on Thursday, with Bitcoin (BTC) rising to $85,187.46 and stock index futures surging, after a US court deemed President Donald Trump's broad-based tariff regime invalid. This positive market sentiment was further boosted by the strong earnings report from AI giant Nvidia. According to on-chain data, large wallets holding over 10,000 BTC have shifted their strategy from buying to selling, as Bitcoin remains near its record high. Additionally, an increase in exchange deposits suggests potential selling pressure. Meanwhile, options market data indicates a possible increase in volatility ahead of the monthly settlement on Friday. Ether (ETH), the second-largest cryptocurrency by market value, reached a new high of $2,821.50, consistent with bullish signals from the derivatives market. The token's price surge is reportedly linked to SharpLink's $425 million Treasury plan. Notably, US-listed spot Ether ETFs saw a net inflow of $84.89 million on Wednesday, marking their eighth consecutive day of growth. Sol Strategies, a Canada-listed investment firm, has filed a preliminary prospectus with local securities regulators to raise up to $1 billion for investing in the Solana ecosystem. However, the price of SOL remained relatively stable at around $170. In the broader market, TON, PEPE, and FLOKI led the gains, while FARTCOIN, PI, and JUP experienced the most significant losses. Open interest in TON perpetual futures surged 33% to $190 million, reaching its highest level since February 18. Stablecoin issuer Circle has frozen wallets connected to the Libra token, containing millions of dollars worth of USDC. Metaplanet has issued $21 million in bonds to finance additional Bitcoin purchases. In traditional markets, some investment banks believe that Trump has alternative tools to circumvent the court ruling on tariffs. Yields on longer-duration Treasury notes increased, suggesting a stronger US dollar. Investors are advised to remain vigilant. Key events to watch include token events, conferences, and token talks. The derivatives positioning and market movements will be closely monitored, along with Bitcoin statistics, technical analysis, and crypto equities. ETF flows, including spot BTC and ETH ETFs, will also be tracked. Source: Farside Investors Other notable developments include overnight flows, the chart of the day, and market updates while you were sleeping, all related to the Ether ecosystem.