Bitcoin Surges 100% to $112,000 as Trump Pushes for Rate Cuts

President Trump has emphasized the strength of the US economy, pointing to the recent surge in tech stocks and Bitcoin as evidence of a thriving market. He has called on the Federal Reserve to lower interest rates, arguing that the current economic policies are not sufficient to support sustained growth. Trump's demand for rate cuts comes at a time when tech stocks and Bitcoin have shown remarkable resilience, with the digital asset trading at elevated levels.

Bitcoin reached a new all-time high above $112,000 on Wednesday, driven by increasing global demand for digital assets. This surge also pushed the overall crypto market capitalization back up to $3.4 trillion, a peak last seen in June 2025. Despite recent gains, the total market value is still below the December 2024 record of $3.7 trillion.

Trump has repeatedly urged the Fed to lower interest rates, but markets see little chance of a cut before September. The central bank has kept its benchmark rate steady at 4.25%–4.50% since December 2024. The President's call for rate cuts is part of a broader push to stimulate economic growth, with Trump asserting that the current economic policies are not conducive to sustained prosperity.

Trump has also emphasized that the trade tariffs implemented by his administration have had a negligible impact on inflation, citing a study that shows import prices are actually dropping. This assertion contradicts concerns that tariffs might drive up prices, further bolstering his argument for economic strength. The President's stance on the economy and his calls for rate cuts reflect his confidence in the market's ability to thrive under his leadership, despite ongoing debates about the effectiveness of his policies.