{"id":113854,"date":"2025-04-21T10:58:00","date_gmt":"2025-04-21T06:58:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=113854"},"modified":"2025-04-21T11:08:27","modified_gmt":"2025-04-21T07:08:27","slug":"bitcoin-surges-over-3-as-dollar-hits-3-year-low-on-fed-turmoil-fears","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/bitcoin-surges-over-3-as-dollar-hits-3-year-low-on-fed-turmoil-fears\/04\/21\/market-updates\/","title":{"rendered":"Bitcoin Surges Over 3% as Dollar Hits 3-Year Low on Fed Turmoil Fears"},"content":{"rendered":"\n

<\/h3>\n\n\n\n

Bitcoin rallied more than 3% on Monday<\/strong>, climbing to its highest level in nearly three weeks, as markets responded to a sharp decline in the U.S. dollar triggered by rising concerns over the independence of the Federal Reserve.<\/p>\n\n\n\n

By 02:31 ET (06:31 GMT)<\/strong>, Bitcoin rose 3.2% to $87,518.0<\/strong>, recovering nearly all of its losses since April 2<\/strong>, when President Donald Trump<\/strong> announced sweeping reciprocal tariffs that had rattled global risk sentiment.<\/p>\n\n\n\n

\n\n\n\n

Dollar Slides on Powell Dismissal Speculation<\/h3>\n\n\n\n

The move higher in Bitcoin tracked the U.S. dollar\u2019s plunge to a three-year low<\/strong>, as political headlines sparked fears over the Federal Reserve’s autonomy.<\/p>\n\n\n\n

    \n
  • The U.S. Dollar Index<\/strong> fell to levels last seen in March 2022<\/strong>.<\/li>\n\n\n\n
  • The pressure intensified after White House economic adviser Kevin Hassett<\/strong> confirmed that Trump\u2019s team was “studying the legality of firing Fed Chair Jerome Powell.”<\/strong><\/li>\n\n\n\n
  • In a Truth Social post<\/strong>, Trump wrote: \u201cPowell\u2019s termination cannot come fast enough!\u201d<\/em> while also reiterating calls for aggressive rate cuts<\/strong>.<\/li>\n<\/ul>\n\n\n\n

    The suggestion of direct political interference in monetary policy undermined investor confidence<\/strong> in the dollar, pushing traders toward alternative stores of value.<\/p>\n\n\n\n

    \n\n\n\n

    Bitcoin Finds Support as Confidence in Fiat Weakens<\/h3>\n\n\n\n

    Bitcoin, long touted as a hedge against both currency devaluation and political instability<\/strong>, gained from the perceived risks in the traditional monetary system.<\/p>\n\n\n\n

      \n
    • Like gold, which hit a record high on Monday<\/strong>, Bitcoin benefited from the declining purchasing power of fiat currencies<\/strong>.<\/li>\n\n\n\n
    • Crypto markets were further buoyed by renewed hope for U.S. trade talks<\/strong> with Japan and China<\/strong>, after Trump last week announced \u201cbig progress<\/strong>\u201d in negotiations with Japanese officials in Washington.<\/li>\n\n\n\n
    • A Bloomberg report<\/strong> also indicated that Beijing is open to fresh talks<\/strong>, provided the U.S. government adopts a more respectful tone.<\/li>\n<\/ul>\n\n\n\n
      \n\n\n\n

      Crypto Market Overview: Altcoins Follow Bitcoin\u2019s Lead<\/h3>\n\n\n\n

      Bitcoin\u2019s gains spilled over into the broader crypto market:<\/p>\n\n\n\n

        \n
      • Ethereum (ETH)<\/strong> rose 2.6% to $1,647.57<\/strong><\/li>\n\n\n\n
      • XRP<\/strong> jumped 2.7% to $2.1276<\/strong><\/li>\n\n\n\n
      • Cardano (ADA)<\/strong> led major altcoins with a 3% gain<\/strong><\/li>\n\n\n\n
      • Solana (SOL)<\/strong> rose 0.6%<\/strong>, while Polygon (MATIC)<\/strong> added 2.6%<\/strong><\/li>\n\n\n\n
      • Dogecoin (DOGE)<\/strong> gained 2.4%<\/strong>, while $TRUMP<\/strong> was largely flat<\/li>\n<\/ul>\n\n\n\n
        \n\n\n\n

        Outlook<\/h3>\n\n\n\n

        With political tensions in Washington spilling over into monetary policy, and global trade talks still in flux, Bitcoin and other digital assets may continue to attract inflows<\/strong> as traders seek to hedge against currency volatility<\/strong> and macroeconomic uncertainty<\/strong>.<\/p>\n\n\n\n

        However, market participants remain cautious as any concrete developments\u2014either in Fed leadership or trade negotiations\u2014could quickly alter the current sentiment.<\/p>\n","protected":false},"excerpt":{"rendered":"

        Bitcoin rallied more than 3% on Monday, climbing to its highest level in nearly three weeks, as markets responded to a sharp decline in the U.S. dollar triggered by rising concerns over the independence of the Federal Reserve. By 02:31 ET (06:31 GMT), Bitcoin rose 3.2% to $87,518.0, recovering nearly all of its losses since …<\/p>\n","protected":false},"author":9,"featured_media":105265,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,6827,49,39,36],"tags":[],"class_list":["post-113854","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-daily-economic-reports","category-economic-reports","category-global-stock-markets","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/113854","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=113854"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/113854\/revisions"}],"predecessor-version":[{"id":113855,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/113854\/revisions\/113855"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/105265"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=113854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=113854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=113854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}