Bitcoin Breaks Through $90,00 as Trump Says He Has 'No Intention' of Firing Fed Chair Jerome Powell

Bitcoin broke through $93,00 on Tuesday evening and edged toward $94,00 after President Trump said he had “no intention” of firing Fed Chair Jerome Powell

Bitcoin broke through $93,000 on Tuesday evening and edged toward $94,000 after President Trump said he had "no intention" of firing Fed Chair Jerome Powell, according to the latest data from TradingView.

"Never did," Trump spoke to reporters. "The press runs away with things. No, I have no intention of firing him. I would like to see him be a little more active in terms of his idea to lower interest rates."

The president has stirred markets in recent weeks by openly criticizing the Fed’s monetary policy. His repeated jabs at Powell sparked talk of a potential dismissal, enough that people started asking whether it was even legally possible.

With each Trump push, worries about the Fed’s independence grew, and so did investor anxiety.

This, along with lingering trade tensions, sent money flowing into gold. Spot gold climbed closer to $3,500 on Tuesday as a result of market unease.

However, the spotlight was on Bitcoin. The digital asset had already been gaining throughout the day, crossing $90,000 before Trump’s remarks. His statements gave the rally fresh legs, pushing Bitcoin past $93,000 in a sharp late-day move.

Market analysts say Bitcoin's recent price actions indicate it might be starting to decouple from tech stocks. For most of its run, Bitcoin has tracked alongside the Nasdaq. But now, it's beginning to behave more independently.

Trump on Tuesday also softened his stance on China's tariffs. He said they'd be coming down substantially and that he wasn't looking to play hardball, another headline that further fed into Bitcoin's rise.