{"id":93014,"date":"2026-01-12T11:35:05","date_gmt":"2026-01-12T08:35:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=93014"},"modified":"2026-01-15T11:39:19","modified_gmt":"2026-01-15T08:39:19","slug":"bitcoin-and-privacy-coins-climb-amid-trump-powell-standoff","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-and-privacy-coins-climb-amid-trump-powell-standoff\/","title":{"rendered":"Bitcoin and Privacy Coins Climb Amid Trump-Powell Standoff"},"content":{"rendered":"

On January 11 the cryptocurrency market turned higher after the head of the Fed<\/span>, Jerome Powell, said the central bank faced pressure from U.S. president Donald Trump.<\/p>\n

<\/p>\n

Over the past 24 hours, bitcoin rose 1.5%, testing $92,000. The price of Ethereum increased by 2.1%, and Solana by 5%.<\/p>\n

\"\u0442\u043e\u043f_10\"
Top ten cryptoassets by market capitalisation. Source: CoinGecko<\/a>.\u00a0<\/figcaption><\/figure>\n

Gains were broad-based, but privacy coins led: the price of Monero<\/a> jumped 15.3%, setting an all-time high around $596; Zcash<\/a> added 9.4%.<\/p>\n

\"privacy_coins\"
Performance of leading privacy coins. Source: CoinGecko<\/a>.\u00a0<\/figcaption><\/figure>\n

Traders reacted to Powell\u2019s video address. The Fed chair said<\/a> the U.S. Department of Justice had threatened him with criminal prosecution over testimony he gave to Congress in June 2025.<\/p>\n

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\u201cThe threat of criminal prosecution is a consequence of the Fed setting rates guided by the interests of society, not the president\u2019s preferences,\u201d the senior official said.<\/p>\n<\/blockquote>\n

His term as head of the Federal Reserve System expires in May 2026.<\/p>\n

U.S. president Donald Trump has openly voiced dissatisfaction<\/a> with Jerome Powell\u2019s actions, insisting on more aggressive rate cuts<\/a>. He repeatedly sought to influence the Fed, urging the rate down to 1% or less.<\/p>\n

Into safe harbour<\/h2>\n

Presto Research\u2019s Peter Chang told The Block the bitcoin rally<\/a> began almost simultaneously with Powell\u2019s address. Gold also firmed: at the time of writing the asset had risen<\/a> 1.53% to $4578.<\/p>\n

\n

\u201cThe price action indicates that Powell\u2019s words about a threat to the Fed\u2019s independence sparked investor concerns about the dollar-based traditional financial system,\u201d the specialist said.<\/p>\n<\/blockquote>\n

He noted that it is trust in the dollar\u2019s neutrality that grants the asset its reserve-currency status.<\/p>\n

\n

\u201cOnce the public is convinced otherwise, investors will start seeking ways to hedge risks in the traditional system. Gold and bitcoin serve exactly such instruments,\u201d the expert added.<\/p>\n<\/blockquote>\n

Kronos Research\u2019s chief investment officer Vincent Liu told the publication that technical factors and strategic buying also underpinned the upward momentum.<\/p>\n

\n

\u201cTraders are watching these moves amid wide-ranging discussions about regulation, including news of a potential bill on a digital-asset market structure to boost transparency and liquidity,\u201d he added.<\/p>\n<\/blockquote>\n

Liu highlighted three key drivers this week: Powell\u2019s conflict with the Justice Department, news on plans to cut taxes, and the release of the consumer price index.<\/p>\n

Macro resilience<\/h2>\n

BTSE\u2019s chief operating officer Jeff Mei flagged the possibility of a volatility spike at the start of the U.S. session due to political tensions.<\/p>\n

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\u201cAgainst the backdrop of the Trump\u2013Fed conflict, a market dip is possible at the start of U.S. trading,\u201d he noted.<\/p>\n<\/blockquote>\n

By contrast, CoinEx Research analyst Jeff Ko sees the impact of the Justice Department\u2013Fed conflict as limited, viewing it as merely one element of broader uncertainty.<\/p>\n

He considers the current backdrop favourable for digital assets. The market is supported by weak U.S. employment data, rising gold prices and reduced leverage. Ko cites geopolitics as the main risk:<\/p>\n

\n

\u201cAny escalation could significantly increase volatility and demand for haven assets.\u201d<\/p>\n<\/blockquote>\n

Bitrue\u2019s head of research Andri Fauzan Adzima pointed to the fundamental resilience of the U.S. economy. GDP growth, rising real wages and slowing inflation are fostering investor interest in risk assets.<\/p>\n

In parallel, Goldman Sachs revised<\/a> its monetary-policy expectations. The bank pushed back its forecast for the first rate cut from March to June 2026, and the subsequent step to September.<\/p>\n

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\u201cThe expected Fed rate cuts, most likely in June and September, will further ease financial conditions, supplying liquidity that cryptocurrencies have historically absorbed, and signalling the early stages of a durable bull phase,\u201d Adzima added.<\/p>\n<\/blockquote>\n

Earlier, the CryptoQuant analyst known as Arab Chain suggested<\/a> a near-term bitcoin reversal amid a collapse in open interest.<\/p>\n","protected":false},"excerpt":{"rendered":"

On January 11 the crypto market turned higher after Fed chair Jerome Powell said the central bank faced pressure from U.S. president Donald Trump.<\/p>\n","protected":false},"author":1,"featured_media":93015,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Crypto market rises as Powell flags Trump pressure on the Fed.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,991,1440,1256],"class_list":["post-93014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-donald-trump","tag-jerome-powell","tag-privacy-and-personal-data"],"aioseo_notices":[],"amp_enabled":true,"views":"211","promo_type":"1","layout_type":"1","short_excerpt":"Crypto market rises as Powell flags Trump pressure on the Fed.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=93014"}],"version-history":[{"count":2,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93014\/revisions"}],"predecessor-version":[{"id":93035,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/93014\/revisions\/93035"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/93015"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=93014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=93014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=93014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}