On Tuesday, Bitcoin BTC$88,980.85 experienced a slight uptick as the U.S. dollar plummeted to its lowest levels in several years following comments made by President Donald Trump.
In a conversation with journalists prior to an anticipated address in Iowa, the president expressed confidence in the dollar’s performance and dismissed concerns regarding its recent downturns.
The U.S. dollar index (DXY), which had already been on a downward trend for the past week, fell further after Trump’s remarks, reaching 95.80—its weakest point in nearly four years.
After spending most of the day trading below $88,000, Bitcoin surged to $89,300—a rise of 2.2% over the last 24 hours. Meanwhile, Ethereum’s ether ETH$3,012.49 climbed back above $3,000 with an increase of 3.9%.
Gold also resumed its upward trajectory amid a weakening dollar after pausing following its remarkable ascent beyond $5,000 per ounce; it reached a new peak at $5,215—up by 1.8% for that session.
Read more: Bitcoin miners surge higher as Anthropic’s fundraising efforts boost AI spirits.
BTC bounce to $95 ,000?
Despite ongoing challenges facing cryptocurrency’s short-term prospects , some technical analysts are identifying potential signs of an impending reversal .
The research service from Swissblock and renowned analyst Willy Woo , known as Bitcoin Vector , has indicated that there is a notable bullish divergence developing between bitcoin’s price and its RSI momentum indicator . Historical data suggests that similar patterns have produced returns around 10%, according to their analysis .
“We may be witnessing the beginning stages of a significant bullish turnaround,” stated Bitcoin Vector . “A return towards $95 ,000 appears increasingly probable.”