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Bitcoin hit a two-month high of $94,000 in a risk-on mood
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25-04-2025
By: Exclusive Markets
Bitcoin jumped to a two-month high of $94,000 and Ethereum rose to $1,800 as traders increased their appetite for the risk-sensitive cryptocurrencies after President Donald Trump said late Tuesday that he doesn’t plan to remove Federal Reserve Chairman Jerome Powell from his post as central bank leader, whose term as Fed chair will end in May 2026.
(Source: cnbc.com).
The statement represented a dramatic shift for Trump, who has recently ramped up his rhetoric against Powell, urging rate cuts to stimulate U.S. economic growth.
In this context, Trump’s remarks triggered a strong relief rally across the financial and crypto board, as markets rebounded from recent sell-offs partially attributed to concerns over political pressure on the Fed.
The improved risk sentiment prompted investors to return to heavily sold-off cryptocurrencies, with Bitcoin bouncing off yearly lows of $74,000 hit April 09 to the current levels of $94,000 and gaining nearly 10% in the last two trading sessions.
Bitcoin managed to add nearly $20,000 from the recent lows, also due to Bitcoin ETF inflows, as Tuesday was the third consecutive trading session to see positive flows for Bitcoin ETFs, and the fifth positive day in the last six.
Exchange-traded funds tracking the price of Bitcoin saw a spike in inflows as interest in the cryptocurrency’s potential as a hedge strengthened amid continued stock market turbulence and a falling U.S. dollar. (Source:cnbc.com)
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