Bitcoin leaped 2.8% on Wednesday to $93,662.90—its highest level since early March—as President Trump eased threats against Fed Chair Jerome Powell and hinted at tariff cuts on China, reviving risk appetite across markets.
Bitcoin Price Action
High of Day: Topped $94,000 before settling near $93,662.90 (4:53 p.m. ET)
Weekly Gain: Up more than 7%, reclaiming seven-week highs
Trading Range: Now consolidating within $76,000–$95,000—a breakout above the upper bound could signal the next leg up
Key Catalysts
H3: Fed Independence Reprieve
No Firing Powell: Trump walked back week-old threats to dismiss Fed Chair Jerome Powell, calming fears over central bank autonomy and U.S. dollar stability.
H3: Trade War De-escalation Hopes
China Tariffs: The President said duties on Chinese goods would be “substantially” lower—sparking optimism for global growth and risk assets.
H3: Regulatory Tailwinds
SEC Leadership: The appointment of crypto-friendly SEC Chair Paul Atkins has boosted confidence in regulatory clarity for digital assets.
Liquidity Signals: Quantitative indicators, such as the liquidity lag metric, have aligned with traditional breakout patterns.
Market Implications
Dollar Weakness: A softer greenback makes BTC more attractive to foreign investors.
Correlation Dynamics: Bitcoin’s renewed rally decouples from broader crypto sideways trading—highlighting its role as an alternative hedge in uncertain policy environments.
Institutional Interest: Improved sentiment may draw fresh capital into BTC ETFs and derivatives.
What’s Next for Traders
Breakout Watch: A sustained close above $95,000 could confirm a new uptrend.
Regulatory Updates: Monitor SEC guidance under Chair Atkins for clues on wider crypto policy.
Macro Data: Upcoming PMI and Fed minutes will test the durability of risk-on flows.
Track Bitcoin Trends and News
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These APIs provide the data and insights needed to navigate Bitcoin’s next moves in a world of shifting policy winds.