#DiversifyYourAssets pto market held stable as Trump and Powell disagree on interest rates
Trump urged Fed Chair Jerome Powell to decrease rates and "stop playing politics."
Powell said the Fed would "wait and see" on policy adjustments since it's too early.
Bitcoin's price kept stable on Friday despite the stock market losing $1.5 trillion, indicating a minor decrease in crypto-stock connection.
Bitcoin might win the global trade war if its "safe haven" narrative gains steam.
Bitcoin (BTC) surged past $84,000 on Friday despite stock market losses. The market reacted to US President Donald Trump's disagreement with Fed Chairman Jerome Powell over interest rate choices.
Bitcoin survives interest rate reduction argument.
After placing retaliatory tariffs on international trade patterns, President Trump called out Jerome Powell on Truth Social, saying the Fed should drop interest rates now. He said Powell is "always late" and might "change his image." Trump said that Powell should "stop playing politics" with interest rate cuts.
A few minutes before Powell's keynote at the Society for Advancing Business Editing and Writing Annual Conference in Virginia, Trump posted on social media.
Powell said the Fed would watch economic indicators and assess risks before making policy decisions. He highlighted that the central bank might delay modifications until the economic picture is clearer.
Financial markets fell more after the Fed's "wait and see" rate lowering policy. S&P 500 and Nasdaq 100 fell 5.9% and 6%, respectively.
Gold dropped 2.6% and silver fell almost 8%.
Although the market was volatile, Bitcoin and crypto values maintained constant. Bitcoin momentarily reached $84,000, while XRP and Solana rose 3% and 5%.
Bitcoin safe haven myth accelerates after stock decoupling
Bitcoin followed a similar path during the 2020 COVID-19 epidemic. Bitcoin started 2020 around $7,161. Bitcoin fell below $4,900 in March as the epidemic caused a cryptocurrency and stock slump
