Bitcoin Rallies as Trump’s Push Against Powell Weakens Dollar

Bitcoin rallied to its highest level since Donald Trump’s tariff announcements in early April as the dollar slumped amid renewed fears over the US president’s efforts to remove Federal Reserve Chairman Jerome Powell.

The largest cryptocurrency by market value jumped about 3.9% to top $88,400 on Monday morning in New York, according to data compiled by Bloomberg. That erased almost all of the losses sustained since Trump’s April 2 reciprocal tariff announcement, which plunged global markets into turmoil.

The rebound comes as the dollar and US stocks slid on Monday after the president’s ...