Bitcoin Price Touches $87K for First Time Since Trump's Liberation Day
Bitcoin price surpassed $87,600 during Asian trading hours, marking its highest level since early April. This increase is attributed to rising global liquidity, a growing M2 money supply, and a weakening U.S. dollar. Bitcoin rose approximately 3.6% in one day, with trading volume exceeding $24.5 billion. Gold also reached a historic high of over $3,400 per ounce, reflecting a 29% year-to-date gain. Analysts noted a shift in investor sentiment towards hard assets like Bitcoin and gold following a decline in asset prices due to recent tariffs. The U.S. Dollar Index fell to 98.5, its lowest since February 2022. Bitcoin ETFs recorded $12.7 million in net flows last week, indicating a modest recovery in institutional confidence. Analysts caution that the sustainability of this momentum depends on the Federal Reserve's upcoming communications regarding monetary policy.
