Bitcoin soars past $88,500! Trump sparks controversy with the Federal Reserve, ETF funds surge!

The price of Bitcoin surged to over $88,500 this week, driving net inflows into U.S. spot Bitcoin ETFs to a staggering $381.4 million, the largest increase in three months. Behind this surge, the conflict between Trump and the Federal Reserve, along with global market uncertainties, has led to a frenzied influx of investors.

With the devaluation of the dollar and a stock market crash, Bitcoin and gold have become the preferred safe-haven assets. On April 21, the inflow of funds into 12 Bitcoin ETFs surpassed $380 million, an increase of over 250%. The ARK 21Shares' ARKB ETF led the way, attracting $116 million in funds. Market sentiment was influenced by Trump's threat to dismiss Federal Reserve Chairman Powell, which heightened concerns over turmoil in the currency market.

Meanwhile, Ethereum's performance has been relatively weak, with net outflows of $25.42 million, continuing to decline to nearly $910 million. This comparison further reinforces Bitcoin's position as the preferred asset during times of uncertainty.

Bitcoin's dominance has also significantly increased, reaching 64.38%, the highest since February, indicating that investors are shifting from altcoins to Bitcoin. Based on current trends, Bitcoin's market share may further soar to 66% in the coming weeks.

As the dispute between Trump and the Federal Reserve intensifies and global risks rise, Bitcoin's market capitalization has rebounded to $1.75 trillion, solidifying its position as a safe haven in turbulent financial conditions.