Bitcoin Surges 6% to $93,988 as Trump Criticizes Fed

Bitcoin surged past $93,000 on Tuesday, marking a fresh four-week high of $93,988. This move came after Donald Trump reignited criticism of Federal Reserve Chair Jerome Powell, demanding immediate interest rate cuts to mitigate inflation stemming from sweeping new tariffs on over 180 countries. Trump’s comments sent a jolt through traditional markets, with Wall Street falling sharply, while Bitcoin rallied over 6% in a classic risk-off rotation.

On Truth Social, Trump doubled down on his rhetoric, saying the Fed’s policy missteps had allowed inflation to spiral during the pandemic. His fiery remarks appeared to dent confidence in the Fed’s independence, but they reinforced Bitcoin’s role as a hedge against institutional risk and monetary uncertainty.

Bitcoin’s safe-haven appeal is once again in the spotlight. Analysts suggest BTC’s recent breakout isn’t just a technical move—it’s part of a larger macro trend. “When trust in institutions erodes, investors turn to alternatives like Bitcoin and gold,” said Juan Leon, Senior Analyst at Bitwise. Supporting this thesis, gold also hit a new record at $3,442 per ounce. Swan Bitcoin’s Steven Lubka added, “Bitcoin’s strength compared to equities suggests it’s already diverging from traditional risk assets.”

After peaking at $93,988, Bitcoin has pulled back slightly and is now trading around $93,119. The rally, which began at $88,682, has formed a steep ascending channel on the 4-hour chart. However, the MACD histogram is showing signs of fading momentum, suggesting a possible short-term cooldown. This is a textbook “wait-for-confirmation” moment. If BTC sustains above $91,269 and reclaims $93,988 on strong volume, it could push toward $97K and beyond. But without confirmation, a dip to the lower trendline or support levels is likely.