Bitcoin jumped more than 3% on Monday as the US dollar fell to its lowest level in three years, driven by concerns about the independence of the Federal Reserve after President Donald Trump hinted at firing Federal Reserve Chairman Jerome Powell.

The largest cryptocurrency in the world rose by 3.2% to $87,518.0 by 8:31 AM, reaching its highest level since April 2.

The cryptocurrency has regained most of the ground it lost since Trump's announcement of reciprocal tariffs on April 2.