The Supreme Court is about to make a crucial ruling on whether the global tariffs imposed by former President Trump under the "national emergency" are unconstitutional. This decision involves over a trillion dollars in tax refunds, and more importantly, it will directly reshape the White House's power dynamics.

Why is the crypto community paying attention? Because the outcome will change the entire asset allocation ecosystem.

**Two possible scenarios:**

What happens if the tariffs are revoked? Import costs immediately decrease, inflationary pressures ease, and the Federal Reserve would have a reason to cut interest rates—this means dollar liquidity will improve, and market risk appetite will rise. Risk assets like Bitcoin will benefit directly.

On the flip side? If tariffs remain unchanged, structural inflation persists, and the high-interest-rate cycle continues, then risk assets can only be suppressed further.

In essence, this is a major test of "policy predictability." The court's decision will not only influence inflation trends but also redefine the strength of the dollar and the direction of global liquidity. The volatility amplifier for the crypto market is right here.

**After the ruling is announced, keep an eye on these two indicators:** the instant reaction of the US dollar index and US Treasury yields. Their fluctuations often serve as leading signals for capital flows and will directly reveal the fate of risk assets moving forward. The storm is imminent—are you ready?