Bitcoin Edges up After Trump Says He Won’t Fire Powell
2025-07-16 20:19:57
Main Idea
Bitcoin's price increased after U.S. President Donald Trump stated he would not fire Federal Reserve Chair Jerome Powell, despite previous rumors and criticism.
Key Points
1. Bitcoin (BTC) reclaimed $119K following Trump's comments, with a 1.95% increase over 24 hours.
2. Trump denied plans to fire Powell but added, 'I won’t rule anything out,' reflecting ongoing uncertainty.
3. BTC's trading volume dropped 22.42% to $71.07 billion, while its market capitalization rose 2.23% to $2.38 trillion.
4. BTC futures open interest increased by 2.27% to $87.63 billion, with $54.91 million in liquidations, mostly from short positions.
5. The article includes promotional content for cryptocurrency-related services, which is unrelated to the core news.
Description
U.S. President Donald Trump told reporters on Wednesday that his administration is not planning on firing Federal Reserve Chairman Jerome Powell, despite rumors claiming otherwise. Trump Softens Stance on Powell, Bitcoin Climbs Bitcoin ( BTC) reclaimed $119K on Wednesday after U.S. President Donald Trump shut down rumors that his was on the verge of firing
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