Trump softens his rhetoric on the Fed and tariffs;
and boosts risk appetite
This jump came after U.S. President Donald Trump backed away from his recent threats to fire Federal Reserve Chairman Jerome Powell, a move that raised concerns among investors about the central bank's independence and led to a decline in the U.S. dollar.
Trump also indicated the possibility of easing trade tariffs on China, sparking hopes for more stable economic forecasts.
Trump emphasized that the United States is "doing well with China" and other countries.
Bitcoin, known for its volatility, has been trading within a narrow range for weeks amid uncertainty about U.S. monetary policy and mixed macroeconomic background.
However, Wednesday’s move reflects renewed confidence that a less aggressive trade stance from the White House could support asset prices.
Stephen Wendecky, Director of Strategy and Revenue at Algoz Digital Asset Quantitative Investment, told Investing.com: "There’s no doubt that the dollar's weakness stemming from the Trump administration’s attack on the Fed, particularly President Powell, has contributed to Bitcoin's rise this week, but that’s just one catalyst."
"The appointment of Paul Atkins as Chairman of the Securities and Exchange Commission and his pro-crypto stance is another catalyst encouraging investors.
