Bitcoin Surges Past $90K Amidst Market Rebound Following Trump’s Comments

Bitcoin surpassed $90,000 for the first time in over a month, coinciding with a rebound in stocks following President Trump’s criticism of the Federal Reserve. Bitcoin’s price increased by 2%, supported by positive movements in gold and other assets. Market responses indicate bullish sentiment, with significant inflows into Bitcoin ETFs, while other cryptocurrencies like Solana and Dogecoin also saw gains.

On Tuesday, Bitcoin surged past the $90,000 mark for the first time in over a month, trading at approximately $90,341 according to CoinGecko. This increase of over 2% occurred as stock markets and other risk assets rebounded after a significant decline the previous day, which was triggered by President Trump’s criticism of Federal Reserve Chair Jerome Powell.

Earlier in April, Bitcoin experienced a downturn alongside other assets, largely due to President Trump’s aggressive tariff policies. However, the cryptocurrency has recovered, coinciding with a new high in gold prices and a stabilisation in U.S. equities, bonds, and the dollar after their Monday slump.

Market volatility was influenced by President Trump labelling Jerome Powell a “major loser” and suggesting his dismissal due to slow interest rate adjustments. Trump’s actions suggest potential interference with the Fed’s independence. Analysts speculate that this could create a bullish environment for Bitcoin as investors remain optimistic this week.

In a positive trend for cryptocurrencies, American Bitcoin ETFs received a remarkable $381.3 million on Monday, marking the largest inflow since January 30th. Furthermore, Solana, the sixth largest cryptocurrency, rose over 4% to reach $143.55, while Dogecoin, ranked eighth, increased to nearly $0.17, although it remains below its late 2020 and early 2021 highs.