Why Bitcoin traders have to price tariffs like surprise rate hikes while waiting on social media posts for the next $175B trigger

The US Supreme Court struck down President Donald Trump’s emergency tariffs under IEEPA on Feb. 20, and markets immediately inherited a large cash flow question. The amount at stake was more than $175 billion in tariff collections that could be subject to refunds, with the Court offering no step-by-step plan for how refunds should be processed. The first clean market tell came from an asset that seems to exist far aw…