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[Market] Bitcoin Reclaims the $95,000 Level… Strengthens on Trump’s Pressure on the Fed to Cut Rates
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Summary
- It said Bitcoin has reclaimed the $95,000 level for the first time in two months since November last year.
- It said that on the Binance Tether market, Bitcoin was up 4.14% day on day at $95,119, while Ethereum rose 7.99% to $3,309.
- It cited President Trump’s pressure on the Fed for a rate cut as the key backdrop for the rally, adding that he said he would name the next Fed chair nominee within the next few weeks.
Bitcoin has reclaimed the $95,000 level for the first time in two months since November last year, buoyed by President Trump’s pressure for rate cuts.
As of the Binance Tether (USDT) market on the global digital-asset (cryptocurrency) exchange Binance on the 14th (local time), Bitcoin was up 4.14% day on day at $95,119, while Ethereum was up 7.99% at $3,309.
The key driver behind the rally is cited as Trump’s pressure on the Federal Reserve over interest rates. Posting on Truth Social overnight, Trump said, “U.S. inflation readings are excellent. Growth indicators are also very good thanks to an excellent tariff policy. This means Jerome Powell must make a meaningful rate cut,” he stressed.
Trump has continued to publicly criticize the Fed and Chair Powell’s rate policy. He recently also said he would “announce the next Fed chair nomination within the next few weeks.”
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![[Market] Bitcoin Reclaims the $95,000 Level… Strengthens on Trump’s Pressure on the Fed to Cut Rates](https://media.bloomingbit.io/PROD/news/2b2de1cf-346c-4306-abd8-9d9c089041d3.webp?w=250)