US regulator may provoke bitcoin’s growth to $ 120,000

The price of bitcoin BTC $105,699.96 Bitcoin -2.39% Market capitalization $2.1 trillion VOL. 24 hours $2.26 billion may rise rapidly to $ 120,000 after the U.S. Federal Court ruling on May 28 blocked most of the tariffs imposed by the Donald Trump administration. This opinion was expressed by Swyftx crypto exchange analyst Paweł Hundal, who noted that this step significantly changes market expectations and will contribute to the growth of the main cryptocurrency.

According to Hundal, the court verdict will have a domino effect on financial markets, and he believes that new historical highs for bitcoin are at hand. The last time bitcoin hit a record high of $ 111,970 on May 22, but subsequently dropped to around $ 107,750, according to CoinMarketCap.

The Trump administration has already filed an appeal, but analysts believe that the very fact of blocking the tariffs has affected the overall market sentiment. Earlier, in April, Trump signed a decree imposing so-called «reciprocal tariffs» of 10% or more on imports from all countries, including Canada, Mexico, and China. This decision was a factor in the decline in the value of bitcoin below $ 100,000.

Cryptocurrency experts believe that the situation has changed radically. The market is now showing growing demand: in the week ending May 23, US bitcoin spot exchange-traded funds (ETFs) recorded inflows of $ 2.75 billion. According to Hundahl, the market is experiencing a «wall of money» from institutional and retail investors.

According to Jeff Kendrick, Head of Digital Assets at Standard Chartered, bitcoin could reach $ 120,000 in the first half of 2025, and even $ 200,000 by the end of the year. The main drivers of growth are stable coins, ETFs, and global demand for risky assets.