Bitcoin Rallies to $87K as US Dollar Weakens From Trump Policies AllinCrypto April 21, 2025
Bitcoin has rallied to $87,000 as President Trump’s push against the Federal Reserve and Jerome Powell has weakened the US dollar.
BTC surged 3.5% on Monday morning, pushing higher towards $90k after a week of Trump believing the FED has been slow to respond to trade tariffs, which Trump claims are yielding positive results.
Falling wedges across the market indicate that Bitcoin and altcoins may be ready for another push and breakout into higher prices after weeks of volatility.
Bitcoin bounces while stock market and US dollar falter
Bitcoin bounced 3.5% on Monday, reversing previous losses made during President Trump’s Liberation Day tariffs, which dragged the traditional markets into freefall, aligning with the S&P 500.
Trump has criticised the performance of FED Jerome Powell, believing that he is “slow” and has not responded to economic changes made by tariffs, expecting interest rate cuts which would, according to Trump, provide a boost to the markets.
Reports suggest Trump’s team has been discussing the outing of Jerome Powell for months, with the President saying, “Powell’s termination cannot come fast enough!”
US stock-index futures fell on Monday, with the US dollar reaching its lowest since January 2024. The US dollar has fallen 5% against other strong currencies including the Euro and Pound, and 6% against the Yen in April 2025.
From Deutsche Bank in a message to clients:
“The safe haven properties of the dollar are being eroded.”
“It is no longer hyperbole to say that the dollar’s reserve status and broader dominant role is at least somewhat in question.”
Crypto, BTC and gold go higher
Despite turmoil and economic uncertainty, Bitcoin and crypto are rallying, with gold leading the way, making multiple new all-time highs.
According to JPMorgan, in Q1 2025, gold outperformed Bitcoin as investors fled to the commodity, using it as a safe-haven asset, which has disappointed some investors who reckon BTC to be digital gold.
Despite this, Bitwise Investments has said crypto and BTC are due for a strong, bullish Q2, saying institutions and investors have been ignoring the positive advances in web3 and Bitcoin, with the total stablecoin market cap reaching a new all-time high in Q1.
The post Bitcoin Rallies to $87K as US Dollar Weakens From Trump Policies first appeared on AllinCrypto.
