Decoupling Bitcoin? BTC rises amid shocks in the stock market
Despite Trump placing new pressure on Federal Reserve Chairman Powell, Bitcoin hovers around $87,000 as interest rates are lowered.
Trump referred to Powell as 'Mr. Too Late' on Truth Social, stating that now is the time for the U.S. central bank to lower borrowing costs, addressing economists' concerns that doing so would increase inflation as consumers and businesses navigate higher input costs from tariffs.
Trump added, 'Powell has always been late.'
In the last 24 hours, Bitcoin has recently grown by 2.9%, SOL fell by 1.2%, while DOGE rose by 1.6%. XRP was roughly flat.
The S&P 500 index fell by 2.8%, while the tech-heavy Nasdaq dropped by 3%.
After speaking at the Chicago Economic Club last week, Trump's rhetoric criticized Powell even more, maintaining a cautious outlook on rate cuts and the economy. Trump later said that the Federal Reserve Chairman cannot end 'fast enough', implying that there is no historical precedent.
Despite Trump placing new pressure on Federal Reserve Chairman Powell, Bitcoin hovers around $87,000 as interest rates are lowered.
Trump referred to Powell as 'Mr. Too Late' on Truth Social, stating that now is the time for the U.S. central bank to lower borrowing costs, addressing economists' concerns that doing so would increase inflation as consumers and businesses navigate higher input costs from tariffs.
Trump added, 'Powell has always been late.'
In the last 24 hours, Bitcoin has recently grown by 2.9%, SOL fell by 1.2%, while DOGE rose by 1.6%. XRP was roughly flat.
The S&P 500 index fell by 2.8%, while the tech-heavy Nasdaq dropped by 3%.
After speaking at the Chicago Economic Club last week, Trump's rhetoric criticized Powell even more, maintaining a cautious outlook on rate cuts and the economy. Trump later said that the Federal Reserve Chairman cannot end 'fast enough', implying that there is no historical precedent.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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