Trump Says Fed Chair 'Is Not in Love With Me' as Crypto Market Soars
Analysis
Price Impact
MedTrump's criticism of the fed and pressure for lower interest rates coincide with a rise in crypto prices. historically, bitcoin performs well in low-interest rate environments, making this news relevant.
Trustworthiness
HighThe information is sourced from a news article reporting on trump's statements and market data from coingecko, both considered reliable sources.
Price Direction
BullishThe article explicitly states that bitcoin and other cryptocurrencies, including ethereum, xrp, and solana, are surging. the context suggests that trump's comments and the anticipation of lower interest rates contribute to this upward trend.
Time Effect
ShortThe immediate market reaction suggests a short-term effect driven by the news cycle and investor sentiment. however, the long-term impact depends on the fed's actual policy decisions.
Original Article:
Article Content:
In brief The Federal Reserve kept interest rates still on Wednesday. Despite this, Bitcoin on Thursday broke above $100,000. President Trump continued to criticize Federal Reserve Chair Jerome Powell. Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENE Bitcoin and other cryptocurrencies soared Thursday along with other risk-on assets buoyed by a U.S.-U.K. trade deal, and despite President Donald Trump's latest attacks on Federal Reserve Chair Jerome Powell to cut interest rates. The largest cryptocurrency by market value cracked $100,000 for the first time since February on Thursday morning New York time. BTC was recently trading over $101,289 after jumping more than 5% over the past 24 hours, crypto markets data provider CoinGecko shows . On Wednesday, the Fed decided to keep interest rates unchanged, angering Trump, who for weeks has been pressuring Powell to lower the cost of borrowing, even threatening to fire him . In remarks from the White House oval office to announce a trade deal with Great Britain, Trump criticized Powell anew. "The chairman of the Fed, Jerome, if he would lower interest rates...like numerous other countries, it would be like jet fuel," Trump said. "It would be great." Trump added: "He doesn't want to do it because he's not in love with me," Earlier in the day on his Truth Social platform, the president called Powell a "fool." Bitcoin has historically done well in a low interest rate environment. With low interest rates, investors tend to buy more "risk-on" assets like stocks and crypto. Major equity indexes were also up, with the S&P 500 and Nasdaq each jumping more than 1% amid investor hopefulness for an end to Trump's trade hostilities. President Trump also said during a Thursday press conference that investors should buy stocks now. Other digital assets surging on Thursday included Ethereum , the second biggest virtual coin, which broke the $2,053 for the first time since early March and was up by more than 14% from the same time, the previous day. The cryptocurrency's price recently stood at $2,047. XRP and Solana rose more than 6% and 10%, respectively. Traditional safe-have asset gold, meanwhile, was down more than 2%. Edited by James Rubin Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Your Email Get it! Get it!