Bitcoin Surges Beyond $87,000 Amid Trump’s Criticism of Powell, Sparking Dollar Uncertainty

Bitcoin’s price has skyrocketed past the $87,000 mark as former President Donald Trump’s vocal opposition to Federal Reserve Chair Jerome Powell undermines investor confidence in the U.S. dollar. This political friction has accelerated capital flows into cryptocurrencies, with Bitcoin leading the charge as a hedge against potential dollar weakness. Market analysts attribute this rally to growing institutional interest and macroeconomic uncertainties, positioning BTC as a preferred store of value during times of monetary policy turbulence.

Trump’s Inquiry Into Firing Powell Fuels Dollar Slide and Market Anxiety

Hassett said Trump is exploring whether he can legally dismiss Powell, raising fresh doubts over the Fed’s political independence. A key gauge of the dollar dropped to its lowest level since Jan. 2024, reflecting the broader unease.

Bitcoin’s rebound was accompanied by a similar move in gold, which climbed to a new record high. Both assets are widely seen as hedges against inflation and systemic risk, and their gains suggest investors are increasingly positioning for potential instability in traditional markets.

Trump has repeatedly clashed with Powell over interest rates and the direction of monetary policy. While the law does not allow a sitting president to fire the Fed chair without cause, a pending Supreme Court case concerning presidential authority over independent agencies has brought the issue back into focus. A ruling in Trump’s favor could raise the likelihood of political interference in central banking.

White House economic adviser Kevin Hassett on Friday said President Donald Trump and his team were continuing to study if they could fire Federal Reserve Chair Jerome Powell, a sign that such a move, a matter of great consequence for the central bank’s… https://t.co/JN9lImo3Xl pic.twitter.com/uXCcjGRhu5

Sen. Elizabeth Warren, speaking to CNBC, recently warned that any move to remove Powell could have far-reaching consequences. “If Chairman Powell can be fired by the President of the United States, it will crash the markets in the United States,” she said. Warren, a longtime critic of Powell, said she nonetheless supports his continued tenure in order to protect the institutional independence of the central bank.

Bitcoin Breaks Out as Price Rebounds Sharply From April Low

Bitcoin’s momentum continued to build as it reclaimed key technical levels. Himanshu Maradiya, founder of CIFDAQ Group, said the asset had bounced back strongly from its April 20 low. It rose more than $3,000 in a single day. The move marked a 16% recovery from its 2025 low of under $75,000.

“Bitcoin is breaking out, reclaiming the $87,000 mark after recovering from its early April slump,” Maradiya said, pointing to renewed bullish momentum and a potential run toward the $90,000 to $94,000 range. He added that the current rally had defied expectations of a pullback over Easter and suggested broader strength across the crypto market.