Bitcoin (BTC) and Ethereum (ETH) Surge Significantly as Trump Assures to Keep Powell as Fed Chair

The crypto sector has recently shown a massive rise. As per the latest market data, Bitcoin ($BTC) has regained the $90K mark as the U.S. President Donald Trump has assured having no plan of dismissing Jerome Powell from Fed’s chairmanship. This swift spike has ignited a worldwide market rally.

$BTC Crosses $90K, Leading to Enormous Rally in $ETH, Gold, and TradFi Prices

At present, Bitcoin ($BTC) is reportedly changing hands at $92,727, accounting for a 3% upsurge. Apart from Bitcoin, Ethereum ($ETH) has also witnessed a sheer price recovery, displaying the wider crypto momentum. This crypto rally has also influenced the equities as Dow futures rose by 444 points while Nasdaq futures have obtained 1.6% Tesla shares have also surged in after-hours trading.  Apart from that, gold has also continued its rally, touching the record price level of $3,509.90.

Amid the bullish sentiment in the financial markets, the U.S. dollar jumped by 0.9% in comparison with yen. In this respect, it has recovered from a recent 3-year low position. This, combined with the Treasury Secretary Scott Bessent’s remarks suggesting de-escalation in the tariff war with China, supported the rally across the traditional finance and digital asset world. Hence, now everyone considers this pump to stay longer. Moreover, the broader investor confidence is also increasing to a great extent.

Growing Investor Confidence Could Trigger Further Price Action

Nonetheless, further developments in the macroeconomic environment will play a crucial role in determining the direction of the financial world. Even then, as the institutional adoption of the crypto assets like Bitcoin is increasing to a great extent, the market is poised to reach new heights. Currently, Bitcoin’s sustained price movement above the $90K spot is a positive push and could trigger an additional price action.