Highlights

Bitcoin soared past $87,000, the highest since April 2, amidst a significant dollar decline. The dollar index fell to a three-year low. This dramatic shift in the markets is largely linked to President Trump's intentions to replace Federal Reserve Chairman Jerome Powell. Trump’s actions have caused ripples in the financial markets, affecting cryptocurrency and traditional asset prices alike.

Sentiment Analysis

• Market Sentiment: Mixed, with strong opinions on both sides regarding Trump's potential actions.


• Bitcoin Sentiment: Positive, as seen with its price surge.


• Dollar Sentiment: Negative, evidenced by its decline.





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Article Text

Bitcoin (BTC) made remarkable gains early Monday, soaring over 2% to reach $87,200 according to CoinDesk. This marks a bullish advance following a period of stabilization between $83,000 and $87,000. Meanwhile, the dollar index (DXY) dropped to an unprecedented three-year low of 98.5, influenced by speculations that President Trump is considering replacing Jerome Powell, the Federal Reserve Chairman. Such a move could profoundly affect the global financial landscape, shaking investors' confidence in the independence of the U.S. central bank.

In the currency exchange market, major hedge funds offloaded the U.S. dollar in favor of stronger currencies like the euro and the yen. This trend, outlined by TradingView data, reflects a 10% decrease in the DXY over the past three months, showing significant investor concern. Traditionally, a weaker dollar can fuel market risk-taking by easing financial conditions.

Gold also responded favorably to these developments, reaching a groundbreaking high of $3,382 per ounce, bolstering its value with a 28% gain this year. In contrast, futures for the S&P 500 and Nasdaq showed a slight decline of 0.5%, indicating market apprehension.

Comments from National Economic Council Director Kevin Hassett on Trump’s intentions stirred the market, alongside the rising BTC and gold prices. Markus Thielen, founder of 10x Research, identified the driving forces behind BTC's rise as the dollar's decline coupled with a +2% surge in gold. Thielen noted, "The perceived threat to Fed independence is the main catalyst today." Trump expressed urgency via Truth Social about Powell's termination, emphasizing the need for lower interest rates.

Kevin Hassett’s remarks dovetail with earlier statements from Powell about the Fed's current wait-and-see stance on economic indicators, postulating potential stagflation risks. Chicago Fed President Austan Goolsbee cautioned that removing Powell could damage the Fed’s credibility, a point of contention among financial analysts.

Omkar Godbole, CoinDesk’s Co-Managing Editor for Markets, brings insights from a background rich in finance and market analysis. Holding modest investments in bitcoin and other digital currencies, Godbole draws from extensive experience in FXStreet and brokerage analysis.

Key Insights Table

Aspect	Description
Bitcoin Price Surge	Bitcoin rose to $87,200, the highest since early April.
Dollar Index Decline	The dollar index hit a three-year low of 98.5.
Trump's Announcement	Speculations abound as Trump considers replacing Powell.
Market Reactions	Gold reached a record high, indices causing mixed reactions.

Last edited at：2025/4/21