🚨💥 Trump backs down to Powell, pushes for interest rate cuts: BTC in the crypto world skyrockets to $93,000! 😱🔥

Trump's Attitude Takes a Sharp Turn

Trump has abandoned plans to fire Federal Reserve Chairman Powell, with Bloomberg reporting that he clearly stated he has "no intention of firing" him, contrasting sharply with his previous harsh criticism of Powell as a "loser" and threats of removal. Polymarket traders are betting that Powell will remain in office.

Pressure for Rate Cuts Intensifies

Although Trump has shelved the idea of removal, he is still aggressively pushing for interest rate cuts, stating that "now is the best time," warning that not cutting rates will drag down the economy. He pointed out that the EU has cut rates seven times, while Powell remains cautious in the face of the tariff war. The Fed is expected to cut rates three times in 2024, with Powell emphasizing uncertainty in trade policy and refusing to adopt aggressive rate cuts.

Crypto Market Surge

Trump's concession and calls for rate cuts are boosting risk asset sentiment, with Bitcoin soaring 6% to $93,000! If the Fed yields, lower rates and a weak dollar could further ignite cryptocurrencies like BTC.

Market Outlook

The game between Trump and Powell is not over, and rate cuts are key. The crypto bull market is reignited; can BTC break through $100,000? Investors hold their breath in anticipation!