Briefly,
- Bitcoin surged above $90,000 on Tuesday, the highest level in nearly a year.
- Stocks are also rebounding after plunging Monday following President Trump's attacks on Fed Chair Jerome Powell.
The price of Bitcoin passed $90,000 per coin for the first time since early March on Tuesday as stocks and other risk assets jumped.
Bitcoin traded at $90,341, as reported by CoinGecko. This is after it jumped more than 2% in the last 24 hours.
The biggest digital coin had struggled and plunged with other assets at the start of April, following President Donald Trump's aggressive new tariff policy.
The commodity is now pushing upwards again. Gold, U.S. stocks, bonds and the dollar have all stabilized since Monday’s plunge.
Traders were spooked in recent days by President Trump's attacks on Federal Reserve Chair Jerome Powell. The president called the boss of the U.S. central bank a "major loser," and hinted that he wanted Powell fired because he had been too slow to lower interest rates.
The Fed is supposed to be fiercely independent and the White House seldom meddles in the bank's affairs. But Trump is reportedly looking for ways to force the issue—which analysts say could be bullish for Bitcoin.
But crypto investors have so far been feeling bullish this week, and on Monday, the American Bitcoin ETFs collectively received $381.3 million—their largest daily total since January 30.
Solana (the sixth largest virtual currency) has also jumped over 4% in other crypto markets. The asset now is at its highest value since the beginning of March and trades for $143.55.
Dogecoin, which is the eighth largest asset, has recently risen in price to $0.17. However, the coin remains well below three-year highs that it reached in December and January.
Andrew Hayward is the editor
