Bitcoin Surpasses $92,000 Amid Trump-Powell Legal Tensions

Bitcoin surged past the $92,000 mark following Federal Reserve Chair Jerome Powell's public response to Department of Justice subpoenas and a criminal probe. The investigation is perceived as political pressure related to interest rate decisions.

Powell addressed President Trump, stating that criminal charges are a result of setting rates based on public service assessments rather than presidential preferences.
The crypto market reacted positively, with Bitcoin and other assets rising, while metals reached new highs.
The upcoming Federal Reserve meeting on January 28 adds significance, as traders are sensitive to any signs of partisan influence on monetary policy.
Analysts view the situation as a stress test of institutional trust, favoring Bitcoin's decentralized nature.
Galaxy's Alex Thorn highlighted Bitcoin’s predictable and censorship-resistant monetary policy in contrast to current events.
Critics argue that the issue lies with centralized banking control rather than individual personalities, emphasizing Bitcoin's potential.
Strive CEO Matt Cole criticized Powell, suggesting Bitcoin remains undervalued despite recent price movements.

At the time of reporting, Bitcoin was trading at $91,560.

Bitcoin price chart