Giggles, Goblins and Gigantic Bitcoins: Court Delays Spark Rally

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On a Thursday, Bitcoin, Ethereum and XRP pranced higher after the great big Supreme Court pressed snooze on a thorny tariff decision from President Trump, easing the rattly nerves of the money-merry-go-round. 😄

Bitcoin shot up like a rocket, climbing more than $2,000 in under an hour and briefly flirting with $92,000. Ethereum followed with tidy gains near $3,120, while XRP wagged its tail above $2.10, keeping up its bragging rights among the big tokens. 🚀💰

Market Turns Green

The whole crypto forest turned a jaunty shade of green. Total market capitalization climbed to about $3.13 trillion, up a whisker-more than 1% on the day. Several large-cap tokens, including BNB and Solana, also pranced higher, while market sentiment stayed as neutral as a snoozing librarian. 🌿📈

The sudden climb whipped the derivatives market into a froth, with roughly $39 million worth of short positions wiped out as prices leapt. 💥

Tariff Decision Put on Hold

The rally came after the Supreme Court said it would not issue a ruling on January 9 in a closely watched challenge to global tariffs imposed by Trump using emergency powers. The delay leaves the tar-wagon’s fate as mysterious as a goblin’s pantry. 🧰🕳️

White House National Economic Council Director Kevin Hassett said senior officials had discussed backup legal options in case the court eventually blocks the tariffs. In an interview with CNBC, he added that the administration could rely on other laws to keep similar trade measures in place if needed. 🧠💼

“There are a lot of other legal authorities that can reproduce the deals that we’ve made with other countries, and can do so basically immediately. And so our expectation is that we’re going to win, and if we don’t win, then we know that we’ve got other tools that we could use that get us to the same place,” he said.

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2026-01-09 20:07