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Bitcoin Rips 6% Higher Above $93K After Trump Ditches Powell Firing Plans

Trump’s reversal came days after he called Powell a “major loser” and criticized the Fed for resisting faster rate cuts.

Bitcoin surged 6% to trade above $93,000 on Wednesday after US President Donald Trump stepped back from threats to remove Federal Reserve Chair Jerome Powell and signalled a possible easing of tariffs on Chinese imports.

peaking from the Oval Office on Tuesday, Trump said he had “no intention of firing” Powell.

He also suggested that the steep tariffs his administration imposed on China could be reduced, saying they “will come down substantially,” although he added they “won’t be zero.”