#创作者成长激励计划#  Trump Allays Fed Chair Powell’s Removal Rumors, Bitcoin Reclaims $93,000

Bitcoin reclaimed the $93,000 threshold early in the Asian session on Wednesday. The show of strength came after President Trump voiced his views on replacing Federal Reserve (Fed) Chair Jerome Powell.
Over the past few months, the leading cryptocurrency has shown increasing correlation with broader economic and political issues, suggesting that the macroeconomy is increasingly influential on Bitcoin.
Trump Has No Intention to Fire Fed Chair Powell
The Fed had previously announced a replacement was imminent a week ago. This comes amid economic hardship due to Trump’s tariffs.
The report comes after Treasury Secretary Scott Bessent announced that the Trump administration plans to meet with candidates to replace Jerome Powell.
The idea has been further fueled by claims that Trump and Powell have opposing views on interest rate cuts. On the one hand, Trump wants the Fed to lower interest rates to protect Americans from the effects of the trade war.
Trump wrote, “The Fed would be much better off lowering rates (relaxing!) as U.S. Tariffs begin to seep into the economy. Do the right thing.”
Powell, on the other hand, has ruled out further rate cuts, advocating a cautious approach to monetary policy decisions. The Fed has also made significant downward revisions to its 2025 economic projections.
These opposing views have fueled speculation that Jerome Powell’s job as Fed chair is in jeopardy. However, in the latest development, Trump has indicated that he has no plans to fire Powell.
“I’m not looking to fire him… I would like to see him be a little more active in the idea of ​​lowering interest rates,” he told Reuters, citing Trump’s words to reporters in the Oval Office on Tuesday.
Immediately after, Bitcoin broke the $93,000 threshold. BTC is trading at $92,678, up nearly 6% in the past 24 hours.
Notably, Jerome Powell’s term as Federal Reserve chair is about 13 months away.
Bitcoin Benefits from Declining Trust in Government
Arthur Hayes commented on the rapid reflection of this issue on the Bitcoin price chart.
Hayes quipped, ‘Trump says he wants to fire JAYPOW – dollar goes down, BTC goes up Trump says he doesn’t intend to fire JAYPOW – dollar goes up, BTC goes up a bit more’.
This comment highlights the market’s sensitivity to political uncertainty in 2025. In hindsight, the US Dollar Index recently fell to a 3-year low, fueled by President Trump’s efforts to remove the Fed chair.
Meanwhile, Bitcoin has risen as investors see it as a potential hedge against a weakening dollar and inflationary pressures.
While Trump’s stances have caused market volatility, the dollar swings are positive for Bitcoin, reflecting its appeal as a hedge against traditional financial instability.
Meanwhile, ETF Store President Nate Geraci says Bitcoin is benefiting from the erosion of trust in governments and politicians, which is driving people to alternatives.
“Bitcoin is one of the biggest winners of the events of the last few weeks, IMO, at least from a philosophical perspective. The further erosion of trust in governments and politicians is going to drive people to alternatives. I’m not saying that’s good or bad, but think about it logically,” Geraci said.