Breaking! Trump Pressures the Federal Reserve but Struggles to Stop Bitcoin's Surge, Breaking the $98,000 Barrier!

Trump's pressure yields no results, Bitcoin hits a new high, surpassing $98,000!

Despite Trump's continuous pressure for the Federal Reserve to cut interest rates, the price of Bitcoin remains strong, breaking back above the $98,000 mark. The Federal Reserve announced that it would keep interest rates unchanged, a decision that intensified Bitcoin's volatility but ultimately led to a rebound, setting a new high in nearly three months.

Trump had threatened to fire Federal Reserve Chairman Powell, criticizing the rate-cutting measures as "too late." However, the Federal Reserve still chose to maintain the current interest rates. Powell explained that despite rising unemployment and inflation risks, the economy remains stable.

Powell also mentioned that despite uncertainties in the economy, the unemployment rate is still low, and the labor market is nearing full employment. His brief remarks caused Bitcoin to dip below $97,000, but just a few hours later, Bitcoin rebounded to $98,000, showing a sustained upward momentum.

The Bitcoin market's Fear and Greed Index has returned to the "Greed" zone, indicating that investor sentiment is warming up. Since March, nearly $4.4 billion has flowed into spot Bitcoin ETFs, suggesting that confidence in Bitcoin is strengthening.

Despite economists warning that delaying interest rate cuts by the Federal Reserve could trigger a broader market downturn, Bitcoin has successfully broken through the $98,000 barrier with strong performance, leaving investors optimistic about the future.