The cryptocurrency market started the week with a show. Bitcoin (BTC) He pulled above the brand of $ 88,000 (almost 77,000 euros) Tuesday morning, reaching his highest level for weeks. The rebound coincides with a sharp drop in the US dollar, which is under pressure due to the political tensions renewed around the Federal Reserve (Fed).
According to financial expert Omkar Godbole, who works in Coindesk, confidence in the dollar has collapsed due to the political uncertainty continues in Washington.
Trump press the Fed and the dollar flows
Former President Donald Trump has once again put fire to fire by reiterating that he wanted to get rid of the president of the American central bank, Jerome Powell. This political threat immediately caused panic in the money market. Large investors and roofing funds got rid of their dollar and went to safer currencies such as the Euro, the Yen and the Australian dollar.
The consequences were rapid: the dollar index (Dxy) fell to 98.5 yesterday, its lowest point since 2022. In just three months, the dollar lost up to 10% of its value.
Gold and bitcoin benefit from the weakness of the dollar
The weakening of the dollar makes alternative investments more attractive, and this has been clearly observed today. Not only has Bitcoin recorded an impressive increase. Gold has also marked the story with a new record of $ 3,382 per ounce. The price of gold already accumulates a gain of 28% this year. According to Markus Thielen, founder of 10x Research, The market reaction is logical::
The combination of the drop in dollar and political uncertainty pushes capital to bitcoin and gold ”.
Altcoins are left in the shadow of BTC
While Bitcoin takes the palm, other important cryptocurrencies such as Ethereum (ETH),, Ripple (XRP) Y Cardano (there) They only manage to climb slightly. With this, it is clear that Bitcoin is currently preferred by investors reacting to the wider macroeconomic panorama.
Analysts consider that overcoming $ 88,000 is a powerful Haussier signal. However, the market continues to depend on the evolution of the political situation. In fact, climbing could quickly become a broader financial uncertainty.
Trump continues to threaten, markets contain breathing
Trump does not seem to stop. “Powell should leave as soon as possible,” wrote yesterday in an article in social truth. A day later, he asked for immediate interest rate reductions, while Powell, on the other hand, warned the risk of stagser and asked for patience.
The next few days are crucial for financial markets and cryptographic investors. The price of the BTC has reached a high level of resistance. If Bitcoin supports a little more, we could soon return to the $ 100,000 brand.
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