President Donald Trump recently criticized Federal Reserve Chair Jerome Powell for not lowering interest rates, even threatening to fire him. This move raised concerns about the central bank’s independence, shaking traditional markets. However, the Bitcoin price remained steady, dropping just 0.5% over the past 24 hours to hover around $84,500. Throughout the week, Bitcoin fluctuated in a tight range between $83,749 and $85,449, showing a modest 2.4% gain.
Trading activity took a hit, with the 24-hour volume plummeting 29.26% to $17.94 billion. This decline ties to traditional market closures for Good Friday. Despite this, Bitcoin’s market capitalization grew by 0.56% to $1.67 trillion, with its dominance nearing 60.9%. Data from Coinglass reveals a cautious market: open interest in BTC futures rose 1.34% to $54.88 billion, while liquidations were minimal at $163,990—$159,260 for long positions and $4,730 for shorts.
The Trump-Fed clash highlights the importance of central bank independence for traditional assets, which are closely tied to interest rates. Yet, Bitcoin’s stability suggests it may be more detached from central bank policies. As traders remain cautious, Bitcoin’s resilience amid the Trump-Fed conflict signals its potential as a unique asset in uncertain times.
