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Bitcoin (BTC), which is the leading cryptocurrency on the market, saw a 10% surge in the last week. It has maintained its position at over $90,000.
The Federal Reserve has been a key factor in the recent upward trend. President Donald Trump is now softer on his approach to the Federal Reserve. negotiationsPositive progress is being made, especially with China.
Bitcoin And Major Altcoins Rally
In the beginning of this month, Trump announced that he would pause for 90 days on any significant tariffs imposed on US trading partners. Bitcoin’s value has increased by $94,000 since Wednesday. It was at $75,000 on the first of March.
Over the past week, broader crypto markets have mirrored Bitcoin’s gains. Ethereum (ETH), XRP, and Solana all saw increases of 11%.
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James Gernetzke is the CFO at Exodus Crypto Exchange. noted, “While the broader macro environment may be very volatile, especially for equities and fixed income, the digital asset class has been holding up remarkably well.”
Recent fluctuations in Bitcoin’s price are traceable to Trump’s announcements about sweeping tariffs that initially sent cryptocurrency markets into a tailspin.
After the brief pause, however, tariffs Investor sentiment changed for the majority of countries. Trump’s recent comments signaling a more conciliatory tone toward China—stating his intention to be “very nice” in trade negotiations—have further fueled this renewed optimism. He said that he will “substantially” If a deal can be reached, tariffs will drop.
Investor Appetite Reveals
Bitcoin has been the primary beneficiary of this shift in investor sentiment. Juan Leon was an investment strategist Bitwise has commented. “This week’s announcements from the Trump administration on negotiations with China prospectively leading to a lowering of tariffs have reignited investor appetite.”
Treasury Secretary Scott Bessent suggested the President is also a terrorist. “very close” White House officials have highlighted progress made in other countries’ discussions as well.
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Trump’s comments about Federal Reserve Chairman Jerome Powell have also contributed to this market rally. Powell refused to reduce interest rates, and Trump expressed his frustration. interest rates Trump, amid the economic chaos caused by tariffs and market turmoil on Wednesday, assured markets that he had “no intention” The Fed Chair is being fired.
Bitcoin advocates see the Fed tensions, despite their temporary nature, as an indication of Bitcoin’s power as a cryptocurrency. Bitcoin is gaining value because investors are looking for alternative assets amid the volatility of American assets, and as the US dollar weakens.
James Butterfill, the director of research at ETF issuing company CoinShares said. “In this environment, investors are seeking alternative safe-haven assets.”
Chart from TradingView.com, image from DALLE
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.newsbtc.com
