Bitcoin Zooms Past $93K After Trump Drops the Drama With Fed
Whew. Things got spicy real quick when Trump almost kicked off a whole Fed vs. President showdown—but then walked it back. And guess what? Bitcoin loved it. The OG crypto surged 6% to hit $93,055, racking up over 11% gains this week alone.
So, what happened?
Trump was out here earlier this week calling Jerome Powell a “major loser” (💀) and throwing shade about firing him. The financial world clutched its pearls, because firing the Fed Chair could’ve been… a mess. But then on Tuesday, Trump hit rewind and said: “Nah, I’m not firing him.”
Also, he hinted that tariffs on Chinese imports—aka those extra fees making stuff more expensive—might go down “substantially.” Not to zero, but still down. That’s a W for markets.
Bitcoin instantly caught a vibe. It shot up because when things in the traditional financial world get shaky, people tend to jump into decentralized assets like BTC that don’t rely on any government or central bank.
Even stock markets caught the energy. Futures for the Dow, S&P 500, and Nasdaq popped off in after-hours trading.
ICYMI: Powell and the Fed are being super careful with interest rate cuts because inflation’s still kinda wild. But Trump’s been on a mission to get those rates slashed—fast. Last week, Powell warned that tariffs could push prices even higher, and Trump wasn’t having it. But now? He’s walking it all back.
So yeah, markets are breathing a little easier. And Bitcoin? It’s flexing hard.’
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