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GM. We are close. $400M in shorts liquidated in just a few hours. Short Squeeze incoming? Depends on the supreme courts decision as to Tariffs and if they are ILLEGAL or not. Decision POSSIBLE today at 10am EST.
If they are considered illegal then ALL those funds collect by the U.S. government will flow back to the U.S. companies which will probably be good for the markets. Removing these tariffs (approx. 10–20% on imports) is effectively a massive tax cut for US corporations. HOWEVER, It will take away a massive bargaining chip for the Trump administration and as we have seen these tariffs have NOT been inflationary as Jerome Powell had feared.
Regardless, I see a path forward either way.
Tariffs struck down = markets rip like everything else.
Tariffs upheld = equities sell-off but gold and BTC see positive inflows as a hedge against government uncertainty.