CoinDesk Podcast Network COINDESK DAILY: China Vows Payback for Nations Backing U.S. Trade Isolation
Apr 21, 2025
Tensions escalate as China vows to retaliate against U.S. trade isolation, leading to a Bitcoin surge past $88,000. The discussion highlights how these geopolitical shifts are positioning Bitcoin as a safe-haven asset. Additionally, Vitalik Buterin proposes a significant overhaul of the Ethereum Virtual Machine, stirring excitement in the crypto community. Meanwhile, Solana briefly surpasses Ethereum in total value staked, showcasing the dynamic nature of the market.
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Bitcoin as Digital Gold Amid Tensions
- Bitcoin surged past $88,000 as U.S.-China trade tensions escalate, reflecting its role as digital gold.
- China's trade retaliation and political stance contribute to Bitcoin's bullish breakout and potential further gains.
Trump Targets Fed Chair Impact
- President Trump is considering removing Jerome Powell, chair of the Federal Reserve.
- This move caused markets to sell the dollar and U.S. stocks, weakening the dollar index to a three-year low.
Bitcoin Gains from Weaker Dollar
- A weaker U.S. dollar could attract renewed interest from American investors to Bitcoin.
- Bitcoin stands out as a hedge against declining dollar value, enhancing its appeal.