Bitcoin Decoupling? BTC Rises as Equity Markets Swoon
Bitcoin's price remained around $87,300 on Monday, gaining 2.9% in 24 hours. U.S. President Donald Trump criticized Federal Reserve Chair Jerome Powell, urging for lower interest rates and calling him “Mr. Too Late.” Trump expressed concerns over inflation and the Fed's previous misjudgments during the pandemic. Altcoins showed mixed results; Solana fell 1.2% to $135, while Dogecoin rose 1.6%. The U.S. Dollar Index (DXY) recovered slightly after hitting its lowest since February 2022, standing at 98.3. Analysts noted a shift towards gold and Bitcoin as alternative stores of value amid declining trust in government institutions. Gold prices surged 3.9% to a new high of $3,442 per ounce. The S&P 500 dropped 2.8%, and the Nasdaq fell 3%. Bitcoin has shown resilience against other risk assets, indicating potential divergence in performance. Trump's criticism of Powell intensified following a cautious speech about rate cuts, suggesting a looming confrontation.
