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The independence of the Federal Reserve (FED) is threatened, leading to a big dump of the dollar.
According to Jinse Finance, there are reports that Trump is attempting to remove The Federal Reserve (FED) Chairman Jerome Powell, leading traders to sell off the dollar against major currencies. Fearing that the independence of the FED is under threat, traders are dumping the dollar, pushing up the prices of Bitcoin and gold. As the dollar index falls to a three-year low, Bitcoin has surged over 2%, reaching $87,200, the highest level since April 2. In addition, major alts such as XRP, ETH, and ADA have also risen by more than 1%, but the gains are lower than Bitcoin.