Bitcoin (BTC) recovered the $ 93,000 level during the early hours today (23). The force demonstration occurred after President Trump expressed his position on the replacement discussions of Federal Reserve President Jerome Powell.

In recent months, the pioneer crypto has shown a growing correlation with broader economic and political issues. This suggests that macroeconomics is gaining influence on bitcoin.

Trump has no intention of dismissing Powell from the Fed

About a week ago, the beinchrypto reported that a change in the presidency of the Fed was imminent. This occurred amid the economic pressure caused by Trump’s fares.

The report followed the announcement of Treasury Secretary Scott Bessent that the Trump administration was planning to interview candidates to replace Jerome Powell.

Reports of opposite views between Trump and Powell about interest rates intensified the idea. On the one hand, Trump wants the Fed to cut interest rates to protect Americans from the effects of commercial wars.

The Fed would be much better cutting the rates as US tariffs begin to integrate (easily!) With the economy. Do the right thing, Trump he wrote no Truth Social.

On the other hand, Powell insists on a cautious approach to monetary policy decisions, rejecting new cuts in interest rates. The Fed also made significant reviews down in its economic projections to 2025.

These opposing views fueled speculation that Jerome Powell’s use as Fed President was at risk. In recent development, however, Trump said he has no plans to fire Powell.

I have no intention of resigning it… I would like to see him be a little more active in terms of his idea of ​​reducing interest rates, Reuters reportedciting Trump speaking to reporters in the Oval Hall on Tuesday (22).

Immediately, Bitcoin surpassed the $ 93,000 level. At the time of this report, the BTC was being negotiated for $ 93,136, representing an increase of almost 6% in the last 24 hours.

In fact, there are about 13 months left in Jerome Powell’s term as president of the Federal Reserve.

Bitcoin benefits from the eroded confidence in the government

The founder of Bitmex and former CEO Arthur Hayes commented on the rapid reaction to this topic in the Bitcoin price chart.

Trump says he wants to fire Jaypow – dollar falls, BTC Under Trump says he has no intention of dismissing Jaypow – dollar rises, BTC rises even more, Hayes joked.

This comment highlights market sensitivity to political uncertainty in 2025. In retrospective, the US Dollar Index (DXY) has recently dropped to a 3 -year low, driven by President Trump’s pressure to dismiss the Fed President.

At the same time, Bitcoin rose as investors saw it as potential protection against a weakened dollar and inflationary pressures.

As Trump’s positions cause volatility in the market, dollar fluctuations are optimistic for Bitcoin, reflecting their appeal as a protection against Traditional Financial Instability (Tradfi).

Beincrypto reported this status on a recent US crypto news publication, citing Geoff Kendrick, Standard Chartered’s digital asset research.

According to Kendrick, Bitcoin is increasingly seen as tradfi risk protection and US Treasury titles.

I believe Bitcoin is a protection against risks of both Tradfi and US Treasury titles. The threat of removing Federal Reserve President Jerome Powell fits the risk of the Treasury – then the protection is in force, Kendrick told the beinchrypto.

Meanwhile, Nate Geraci, president of ETF Store, says Bitcoin is benefiting from the erosion of confidence in governments and politicians, which is leading people to seek alternatives.

Bitcoin is one of the biggest winners of events in recent weeks, at least from a philosophical point of view. The additional erosion of confidence in governments and politicians will lead people to seek alternatives. I’m not saying that this is good or bad, but think logically, generate commented.