Bitcoin’s price surged over 6% today, reaching a seven-week high of $93,811, following U.S. President Donald Trump’s indications of a potential easing in trade tariffs on China and a softened stance toward Federal Reserve Chair Jerome Powell.
The cryptocurrency’s rally reflects renewed investor confidence amid hopes for a more stable economic outlook. Analysts suggest that a less aggressive trade posture from the White House could support asset prices, contributing to Bitcoin’s recent gains.
In addition to Bitcoin’s rise, other cryptocurrencies also experienced significant increases. Ethereum jumped 13.5% to $1,796.57, XRP rose 7.7% to $2.2358, and meme tokens like Dogecoin and $TRUMP saw gains of nearly 13% and 14%, respectively.
