In brief
- Bitcoin jumped above $90,000 Tuesday for the first time in more than a month.
- Stocks are also rebounding after plunging Monday following President Trump's attacks on Fed Chair Jerome Powell.
The price of Bitcoin passed $90,000 per coin for the first time since early March on Tuesday as stocks and other risk assets jumped.
Bitcoin was recently trading for $90,341, according to CoinGecko, after jumping more than 2% over a 24-hour period.
The biggest digital coin had struggled and plunged with other assets at the start of April, following President Donald Trump's aggressive new tariff policy.
But the commodity has recovered and is pushing higher again. The price jump comes as gold hit a new high and U.S. equities, bonds, and the dollar all steadied after diving on Monday.
Traders were spooked in recent days by President Trump's attacks on Federal Reserve Chair Jerome Powell. The president called the boss of the U.S. central bank a "major loser," and hinted that he wanted Powell fired because he had been too slow to lower interest rates.
The Fed is supposed to be fiercely independent and the White House seldom meddles in the bank's affairs. But Trump is reportedly looking for ways to force the issue—which analysts say could be bullish for Bitcoin.
What Trump Firing Fed Chair Would Mean for Bitcoin—And the US Economy
Should President Donald Trump make good on apparent threats to fire Federal Reserve chair Jerome Powell, analysts tell Decrypt that the extraordinary move would likely throw the American political system into turmoil. But could it also be bullish for Bitcoin? On Thursday, Trump, who has unsuccessfully lobbied Powell to lower interest rates for weeks, said the Fed chair’s termination “cannot come fast enough.” While presidents often come into conflict with the Fed, which dictates U.S. monetary p...
But crypto investors have so far been feeling bullish this week, and on Monday, the American Bitcoin ETFs collectively received $381.3 million—their largest daily total since January 30.
Elsewhere in crypto markets, Solana, the sixth biggest virtual coin, jumped by over 4%; the asset is now at its highest level since the end of March, trading for $143.55.
And Dogecoin, the eighth-biggest asset, shot up higher and was recently priced at nearly $0.17. But the coin is still well below the three-year highs it hit in December and January.
Edited by Andrew Hayward
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