Bitcoin Surges Past $87,000 Amid Dollar Weakness
Bitcoin has surged past the $87,000 mark, marking a major rebound and capturing the attention of global investors. This upward movement follows a volatile few weeks for the cryptocurrency, which saw dips below $65,000 earlier in the month. Analysts attribute the recovery to a mix of macroeconomic factors, including the weakening U.S. dollar and renewed interest from institutional investors seeking alternatives to traditional assets. As uncertainty around U.S. monetary policy grows, Bitcoin is increasingly viewed as a hedge against inflation and financial instability.
The latest push comes amid political tension in the U.S., with reports suggesting that former President Donald Trump may be seeking to oust Federal Reserve Chairman Jerome Powell if he returns to office. This news has sparked concerns over the Fed's independence and its ability to manage economic policy free from political interference. In response, the dollar has seen notable declines, prompting investors to rotate into hard assets like Bitcoin and gold, both of which have rallied sharply over the past week.
Market analysts suggest that if this momentum continues, Bitcoin could soon test the $90,000–$92,000 resistance levels, especially as broader sentiment in the crypto market turns increasingly bullish. The rally has also lifted altcoins like Ethereum, XRP, and Dogecoin, signaling strong overall demand for digital assets. With macro conditions and technical indicators aligning, Bitcoin’s surge past $87K may be more than a short-term bounce—it could be the beginning of another major bull run.
