Bank of America (BofA) suggests that U.S. tariff refunds may provide a macroeconomic boost to Bitcoin prices by cooling inflation. As of May 11, the U.S. Customs and Border Protection processed $35.46 billion in tariff refunds, with a potential total of $166 billion eligible for repayment. This liquidity injection could enhance bank reserves and influence risk asset pricing, including Bitcoin. The refunds, resulting from a Supreme Court ruling against the Trump administration's tariff authority, could impact inflation by reducing the effective tariff rate, which peaked at 11.3% in October 2025. BofA anticipates the rate to settle between 6% and 8% by year-end, potentially delaying price hikes and benefiting corporate margins. This scenario could ease inflationary pressures, allowing Bitcoin to reclaim its 200-day moving average near $82,000, provided liquidity conditions improve and inflation data supports a favorable yield environment.