Bitcoin prices rise amid easing trade tensions and Trump's refusal to fire US Fed Chair

Bitcoin prices keep rising as Donald Trump attempts to bring global trade tensions under control. The US President also stated his refusal to dismiss Fed Chair Jerome Powell. Trump's previous comments in this regard have triggered strong negative reactions from both officials and investors. Many interpreted the politician's words as a threat to the US central bank's independence, according to Bloomberg.

During Asian trading on Wednesday morning bitcoin gained 3%, then slightly retreated, but maintained the uptrend. The value of the world's largest cryptocurrency is about $92,700. Other digital assets, including ETH, XRP and SOL, also grew on the back of Trump's latest statements.

Another positive event for the market was Trump's willingness to reduce the unprecedentedly high tariffs on imports of Chinese goods. They currently stand at 145%, Bloomberg notes. Trump has expressed his intention to cut this rate if the world's two largest economies manage to reach an agreement.

However, Bitgo expert Stefan von Haenisch does not rule out the possibility of bitcoin prices correcting to $88,000 by the end of the week.