(Bloomberg) – Bitcoin has risen to its highest levels since Donald Trump’s tariff ads in early April, as the dollar fell amid renewed concerns about the efforts of the US President to remove the Federal Reserve Chairman Jerome Powell.
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The largest encrypted currency jumped according to the market value of about 3.9 % to $ 8,8400 on Monday morning in New York, according to the data collected by Bloomberg. This was erased almost all the losses that have continued since Trump’s mutual declaration on April 2, which decreased global markets in turmoil.
The recovery comes when the US dollar and shares slipped on Monday after the president’s criticism of the Federal Reserve sparked concerns about his independence. The dollar scale has achieved its lowest point since January 2024 after the director of the National Economic Council, Kevin Haysit, said on Friday that Trump is studying whether he was able to shoot Powell.
“The weakness of the US dollar leads the gathering in encryption,” said Sean McNolti, who is trading in APAC derivatives at APAC at APAC Digital-ASET Prime Brokerage Falconx. He added, however, that “the liquidity of the delicate vacation” in the encryption markets caused an exaggeration in this step. While the American markets are open, the two are a holiday in many countries.
Bitcoin’s recovery coincided with another increase in gold, which rose to a new record, highlighting investors’ demand for safety assets and hedging assets in inflation.
Trump was aiming at another offer in Powell on Monday, warning that the American economy could slow down if the Federal Reserve did not move to reduce interest rates immediately.
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