Bitcoin continued its strong run over the Easter weekend, topping $88,460 on Monday before settling at $88,260.09, a 4.48% increase in 24 hours, according to data from CryptoComLearn. The rally coincided with a sharp decline in the U.S. Dollar Index (DXY), which fell to its lowest level in three years as global investors fled American assets amid President Donald Trump’s aggressive tariff policies and his repeated threats to fire Federal Reserve Chairman Jerome Powell.
Market Metrics Show Broad Strength
Trading volume for Bitcoin surged 133.17% to $34.41 billion, driven by typical post-weekend volume recovery. Bitcoin’s market capitalization grew 4.15% to $1.74 trillion, while its market dominance rose to 64.30%, a gain of 0.67%, reinforcing Bitcoin’s leadership in the crypto market.
Futures open interest jumped 11.45% to $61.89 billion, reflecting heightened investor engagement and bullish sentiment. Despite the price surge, total liquidations remained modest at just $460,490, with short liquidations of $276,400 and long liquidations of $184,090. The low liquidation volume highlights an orderly market even as prices and trading activity rise.
Trump’s Tough Talk Weakens the Dollar, Lifts Bitcoin
Trump pointed to the lower-than-expected inflation numbers released by the Bureau of Labor Statistics on April 10 and used them to renew his attacks on Powell. In a Truth Social post on Monday, the president called Powell “a major loser” for not cutting interest rates to support 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 wrote. “Europe has already ‘lowered’ seven times. Powell has always been ‘Too Late.’”
Last week, Trump threatened to fire Powell, bringing the question of Fed independence into sharp focus. The combination of tough trade policies and verbal attacks on the Fed chief prompted a wave of foreign capital outflows from U.S. assets, sending the DXY to a three-year low, gold to an all-time high, and Bitcoin above $88,000.
If the trend persists, the greenback risks losing its global dominance to Bitcoin, which was designed specifically as an antidote to reckless fiat policies. The current macroeconomic uncertainty, fueled by trade wars and political pressure on the central bank, is reinforcing Bitcoin’s narrative as “digital gold” and a safe-haven asset for institutional and retail investors alike.