Recent statements from Donald Trump have significantly impacted the Bitcoin market, driving the cryptocurrency price close to $111,000. Trump emphasizes upcoming Federal Reserve decisions while signaling changes in its leadership.
Trump's Influence on the Federal Reserve
Since his inauguration, Donald Trump has consistently advocated for lower interest rates. His criticism of Fed Chairman Jerome Powell and threats toward him are well-known. Following the recent resignation of a Fed member, Trump claims he aims to establish a majority of like-minded individuals on the board who support his interest rate reduction policy.
Bitcoin Prices and Rate Cut Predictions
The rise of Bitcoin to nearly $111,000 coincides with growing expectations around interest rate cuts. A Fed decision is anticipated soon, with current odds of a rate cut estimated at 87%. This year, two rate cuts are expected with an 85% likelihood.
Statements About China and Economic Consequences
Trump also emphasized that they continue to have good relations with China, which could support Bitcoin's growth. He stated, "We have excellent relations with China. China respects us once again, and this is the primary reason for BTC's rise." These remarks followed his recent public announcement about a 200% tax.
Trump's statements underscore his influence on the Fed and U.S. economic policy, which is reflected in the markets, particularly in the cryptocurrency sector. His confidence in controlling the Federal Reserve could lead to significant changes for Bitcoin and the global economy.
