Bitcoin Soars as USD Continues to Plummet
Markets and Prices
Frederick Munawa
Bitcoin Soars as USD Continues to Plummet
The cryptocurrency’s price saw a steady appreciation throughout the Easter weekend, topping $88K on Monday, while the dollar fell to a three-year low.
Bitcoin Soars as USD Continues to Plummet
BTC Is Soaring While the Dollar’s Freefall Continues
President Donald Trump’s aggressive tariffs and his threats to fire Federal Reserve Chairman Jerome Powell, have left traditional markets wary, with foreign investors fleeing U.S. assets, which has weakened the greenback, but bitcoin ( BTC) and physical gold, appear to have emerged as safe havens.
Overview of Market Metrics
Bitcoin kicked off the week with strong momentum, climbing 4.48% over the past 24 hours to reach $88,260.09 at the time of reporting. The digital asset traded in a range between $84,281.02 and $88,460.10 as investor sentiment continued to improve. Over the past 7 days, BTC has gained 5.08%, supported by steady buying and broader market optimism.
Bitcoin Soars as USD Continues to Plummet
( BTC price / Trading View)
Trading volume soared to $34.41 billion, marking a 133.17% increase compared to the previous day, a jump largely attributed to the typical post-weekend surge. Bitcoin’s market capitalization also saw a healthy rise, up by 4.15% to $1.74 trillion. Meanwhile, BTC dominance climbed to 64.30%, gaining 0.67% and reinforcing bitcoin’s leadership role in the crypto market.
Bitcoin Soars as USD Continues to Plummet
( BTC dominance / Trading View)
Coinglass data shows that open interest in bitcoin futures rose significantly: up 11.45% to $61.89 billion, suggesting heightened investor engagement and bullish sentiment. Despite the surge, overall liquidations remained minimal at $460,490, with $276,400 from shorts and $184,090 from longs. The relatively low liquidation volume highlights the market’s orderly nature, even with rising prices and trading activity.
Trump’s Tough Talk Tanks Dollar
Trump touted the lower-than-expected inflation numbers released by the Bureau of Labor Statistics on April 10, and on Monday, called Powell “a major loser” for not cutting interest rates to spur the slowing U.S. economy.
“There can almost be no inflation, but there can be a slowing of the economy, unless Mr. Too Late, a major loser, lowers interest rates now,” Trump posted on Truth Social. “Europe has already ‘lowered’ seven times. Powell has always been ‘To Late,’” the president added.
Last week, Trump threatened to fire Powell, bringing the question of Fed independence into focus. The president’s tough trade policies and his shots at Powell, have resulted in an exodus of foreign investors, sending the U.S. Dollar Index (DXY) to a 3-year low, gold to an all-time high, and bitcoin to $88K.
Bitcoin Soars as USD Continues to Plummet
(The U.S. Dollar Index which tracks the strength of the dollar against a basket of foreign currencies, fell to a 3-year low on Monday / Investing.com)
If the trend continues, the greenback risks ceding its global dominance to the cryptocurrency, which was designed specifically as an antidote to reckless fiat policy.
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