Bitcoin saw a modest increase on Tuesday, rising by 0.7% to $88,194.9 as market sentiment stabilized following a post-holiday rally. The rally was partly fueled by continued Bitcoin purchases from Michael Saylor’s Strategy, the largest corporate holder of Bitcoin. However, broader market concerns remained, particularly in light of U.S. President Donald Trump’s escalating criticism of the Federal Reserve.
Despite the uptick in Bitcoin, the overall mood in the market remained cautious. Ongoing fears about the economic impact of Trump’s trade tariffs, as the U.S. remains locked in a trade war with China, dampened investor enthusiasm.
Broader cryptocurrency prices also faced a downturn on Tuesday, after largely missing Bitcoin’s rally during the Easter and Good Friday holidays. Strategy’s recent Bitcoin acquisition bolstered optimism surrounding the cryptocurrency, but Bitcoin still remained 5.6% lower for the year, continuing its decline from its record highs earlier in 2025.
Saylor’s Strategy, which acquired 6,556 bitcoins for approximately $555.8 million, now holds a total of 538,200 bitcoins, funded largely through stock offerings. The company’s buying actions have been a significant factor in Bitcoin’s price movement. However, market sentiment remains fragile, particularly following April’s revelation of a nearly $6 billion unrealized loss on Strategy’s digital asset holdings, a blow to market confidence.
Meanwhile, the broader cryptocurrency market struggled amid political and economic uncertainty. U.S. President Trump’s renewed criticism of Federal Reserve Chair Jerome Powell added to investor unease. Over the weekend, Trump called for a preemptive interest rate cut, warning that inaction could harm economic growth. His remarks intensified concerns about the Fed’s independence, with reports suggesting that Trump may seek to remove Powell before his term ends in 2026. However, Powell has indicated that the Fed will not cut rates soon and intends to serve his full term.
Among other major cryptocurrencies, Ether fell nearly 4% to $1,584.52, and XRP dropped 2.4% to $2.0790. Solana and Cardano also experienced losses of 1% and 2.6%, respectively. On the other hand, Polygon saw a gain of nearly 7%. Meme coins showed mixed performances, with Dogecoin shedding 0.3%, and the $TRUMP token falling by 0.4%.
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