Bitcoin price today: Jumps after Trump backs off tariffs
Bitcoin price today: jumps to a 7-week high of $93K as Trump softens tariff position.
Bitcoin surged on Wednesday, climbing to a seven-week high as markets reacted positively to U.S. President Donald Trump’s softened stance on Fed Chair Jerome Powell and possible tariff relief for China.
The leading cryptocurrency rose 3.1% to $92,936.0 by 10:01 ET (14:01 GMT), marking its highest level since early March.
Trump tempers Fed, China rhetoric; markets respond positively.
The rally followed Trump’s decision to step back from threats to remove Federal Reserve Chair Jerome Powell—an earlier move that had shaken investor confidence and pressured the U.S. dollar. He also hinted at reducing trade tariffs on China, boosting optimism around the global economic outlook.
Trump added that the U.S. was “doing fine with China” and other international partners.
Bitcoin, which had been consolidating in a narrow range due to policy and economic uncertainty, broke higher on renewed optimism that the White House’s more measured approach could help lift risk assets.
Altcoins also saw strong gains on Wednesday, buoyed by a broader surge in demand for riskier assets.
