$BTC

The rally is influenced by macroeconomic factors, notably a weakening U.S. dollar following reports that President Trump intends to replace Federal Reserve Chair Jerome Powell. This development has led investors to seek alternative assets like Bitcoin and gold, with the latter reaching a new high of $3,385 per ounce .

Technical indicators support the bullish momentum. The daily MACD has confirmed a bullish crossover, and the price has broken above the mid-Bollinger Band at $83,061, now testing the upper band at $88,326. The 4-hour chart also shows a breakout above $85,000 resistance, forming higher lows and indicating a clean uptrend .