Trump Claims Fed Chair ‘Is Not in Love With Me’ Amid Crypto Market Surge – What You Need to Know

Bitcoin is making waves! The largest cryptocurrency recently soared past $100,000 for the first time since February, hitting a high of around $101,289. This surge in Bitcoin’s value comes on the heels of a trade deal between the U.S. and the U.K., which has lifted the spirits of investors. According to data from CoinGecko, Bitcoin jumped over 5% in just 24 hours.

Meanwhile, the Federal Reserve decided to keep interest rates steady. This decision didn’t sit well with former President Trump, who has been vocal in his push for lower rates. He’s even suggested that Fed Chair Jerome Powell’s reluctance to cut rates might stem from personal grievances.

In a recent Oval Office address, Trump reiterated his frustrations. He claimed that if interest rates were lowered, it would be “like jet fuel” for the economy. Trump’s comments reflect a broader sentiment: lower rates typically boost spending and investment, particularly in riskier assets like cryptocurrencies and stocks.

Historically, Bitcoin has thrived in low-rate environments. Investors are more likely to take risks when borrowing costs are down, often shifting their money into digital assets. This pattern remains evident today. Major stock indexes like the S&P 500 and Nasdaq also rose by over 1%, driven by optimism for an end to trade tensions.

Additionally, Ethereum, the second-largest cryptocurrency, surged past $2,053, marking a 14% increase since the previous day. Other altcoins like XRP and Solana also saw gains. Interestingly, traditional safe-haven assets like gold fell more than 2% during this time.

Investors are responding actively on social media, with many expressing excitement about these developments. The trending hashtags often reflect hopes for continued growth in the crypto space, as well as trust in economic recovery.

In summary, Bitcoin’s climb and the Fed’s decision come at a pivotal moment, blending market enthusiasm with the intricacies of monetary policy. As always, it’s essential for investors to stay informed and cautiously optimistic in this fluctuating landscape.

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