Quick Summary:
- Bitcoin surges 6%, crossing $93,200 amid easing political tensions.
- President Trump reverses course, says he won’t fire Fed Chair Jerome Powell.
- Hints at reducing tariffs on Chinese imports, but confirms they “won’t be zero.”
- Markets jump: US stock futures rise alongside Bitcoin.
- Crypto rally reflects growing investor preference for decentralized assets during policy uncertainty.
Trump’s U-Turn Sends Bitcoin Soaring
In a dramatic market twist, Bitcoin surged over 6% on Wednesday, hitting $93,200 after President Donald Trump walked back threats to fire Federal Reserve Chair Jerome Powell and suggested possible tariff reductions on Chinese goods.
Just days ago, Trump labeled Powell a “major loser” and hinted at his dismissal—sparking volatility across markets. However, speaking from the Oval Office Tuesday, he assured reporters:
“I have no intention of firing him… but I would like to see him more active on lowering interest rates.”
This reversal, paired with Trump’s comments that Chinese tariffs “will come down substantially,” sent a wave of optimism through crypto and stock markets alike.
Crypto Thrives in Chaos
Cryptocurrencies like Bitcoin are often seen as safe havens during political and financial instability. Trump’s erratic stance on the Fed and trade policies appears to have bolstered confidence in decentralized assets.
With the Federal Reserve cautious about further rate cuts due to sticky inflation and ongoing trade tensions, the market is leaning into assets not controlled by central banks—like Bitcoin.
Market Reaction
- Bitcoin Weekly Gain: 11%+
- Dow Futures: Up 580 points
- Nasdaq Futures: Also climbing
This Bitcoin breakout is more than just a price spike—it reflects a broader shift in investor sentiment, as uncertainty surrounding US monetary policy drives demand for alternatives