- Bitcoin jumped over 6% to $94K after Trump eased China tensions and pulled back threats against Fed Chair Powell
- The rally also sparked massive inflows into Bitcoin ETFs and lifted other major cryptocurrencies like Ether, XRP, and Solana.
Bitcoin has rocketed to a fresh multi-week high, mirroring a surge in global financial markets after U.S. President Donald Trump adopted a softer tone on China and cooled his rhetoric toward Federal Reserve Chair Jerome Powell.
Bitcoin Climbs as Markets Breathe a Sigh of Relief
The flagship cryptocurrency jumped 6.6% over the last 24 hours, trading at an impressive $94,227.77. That marks a 12% gain over the past week and a staggering 26% rally in just two weeks. Investors piled into Bitcoin ETFs as well, with a whopping $936 million in inflows recorded yesterday—the third-highest this year—signaling renewed institutional interest.
The surge comes after Trump suggested tariffs on Chinese imports would “come down substantially,” hinting at a thaw in trade tensions between the world’s two largest economies. He also appeared to walk back earlier threats to remove Jerome Powell, offering a more stable outlook for U.S. monetary policy.
Crypto Joins the Party as Risk Appetite Returns
U.S. stock markets and the dollar rallied Tuesday, and Bitcoin, often seen as a hedge or alternative asset, surprisingly moved in tandem. Bloomberg noted that the digital asset had initially appeared to break free from its usual correlation with equities, before ultimately aligning with the broader financial rally after Trump’s statements.
The bullish momentum wasn’t limited to Bitcoin. Ether surged 10.7%, XRP climbed 9.4%, and Solana jumped 8.6%, as renewed optimism swept across the crypto space.
Trump’s Words, Bitcoin’s Wings
Once again, political rhetoric has sent shockwaves through the financial world—this time to the benefit of crypto bulls. With BTC soaring past $94K and institutional money pouring into ETFs, the landscape could be shifting in favor of a major breakout. As macro signals align and investor confidence returns, the question remains: is this the start of Bitcoin’s next big run?
