After Trump stated he had no intention of firing Federal Reserve Chairman Powell, the price of Bitcoin continued to rise, easing concerns about the independence of the Federal Reserve.
As the largest cryptocurrency, the price of Bitcoin briefly rose by about 3%, before narrowing its gains. Other smaller cryptocurrencies, including Ethereum, Ripple, and Solana, also saw increases.
On April 22, the price of Bitcoin broke through $90,000, indicating that it is breaking away from a long-standing trend of moving in tandem with the U.S. stock market. However, following Trump's comments about Powell, combined with optimistic expectations that trade tensions may ease, Bitcoin's subsequent movements aligned more closely with the trends of the stock market and the dollar.
By this weekend, this round of cryptocurrency gains may see a correction. The market has been continuously rising, and it currently feels somewhat overbought, so a correction in Bitcoin's price to at least $88,000 would not be unexpected.
As the largest cryptocurrency, the price of Bitcoin briefly rose by about 3%, before narrowing its gains. Other smaller cryptocurrencies, including Ethereum, Ripple, and Solana, also saw increases.
On April 22, the price of Bitcoin broke through $90,000, indicating that it is breaking away from a long-standing trend of moving in tandem with the U.S. stock market. However, following Trump's comments about Powell, combined with optimistic expectations that trade tensions may ease, Bitcoin's subsequent movements aligned more closely with the trends of the stock market and the dollar.
By this weekend, this round of cryptocurrency gains may see a correction. The market has been continuously rising, and it currently feels somewhat overbought, so a correction in Bitcoin's price to at least $88,000 would not be unexpected.
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BTC
95,421.01
+1.59%