Today's encryption market: Trump criticizes Powell again, the US dollar weakens, Bitcoin, Ethereum, and XRP rise.

Gate news, today's crypto market shows new dynamics, how will the future market trend? The main coin performance highlights are as follows:

1. Bitcoin reduces the losses caused by geopolitical tensions and retests the resistance level of $108,000;
2. Investors will turn their attention to the divergence between Trump and Powell, as well as concerns about the independence of the Federal Reserve;
3. Against the backdrop of stability in the derivatives market and the recovery momentum of open contracts, Ethereum and XRP continue to rise. Bitcoin (BTC) continues its upward trend, briefly breaking through the resistance level of $108,000, and then retracing to around $107,356 at the time of writing this article. This is due to concerns about the independence of the Federal Reserve, leading to an increasing interest from investors in digital assets. Major altcoins, including Ethereum (ETH) and Ripple (XRP), are gaining bullish momentum, supporting the surge in investor interest.

Market Overview: President Trump hints at successor to Federal Reserve Chairman Powell U.S. President Donald Trump criticized Federal Reserve Chairman Jerome Powell again, hinting that someone will replace him, and the sentiment in the crypto market has changed from its previous gloom.

President Trump described Powell as "terrible" and added that he already has potential successors in mind. "I have identified three or four candidates," Trump told reporters in The Hague during the NATO summit.

Direct criticism and obvious attacks on Powell continue to raise concerns about the independence of the central bank. President Trump has called for interest rate cuts. However, the Federal Reserve Chairman stated during testimony before a Senate panel on Wednesday that the central bank needs more time to observe the situation, as "tariff increases this summer may push up inflation."

The US dollar index (DXY) further declined on Thursday, maintaining at 97.17 as of the time of this writing. According to the daily chart below, the dollar index has dropped at least 11.82% from around 110.00 on January 13 (before President Trump's inauguration).

(Source: TradingView)

Data Focus: Bitcoin and Ethereum Spot ETF Inflows Surge As investors digest the impact of President Trump's attacks on Jerome Powell and the independence of the central bank, interest in digital assets, particularly in spot exchange-traded funds (ETFs), has significantly increased as a tool to hedge against uncertainty.

According to Trader T's monitoring, Bitcoin spot ETFs had a total inflow of $226.37 million yesterday, achieving a net inflow for 13 consecutive days. The specific data is as follows:

IBIT (BlackRock): $163.46 million

FBTC (Fidelity): $32.85 million

BITB (Bitwise): $25.16 million

ARKB (Ark Invest): $1.79 million

EZBC (Franklin): 3.11 million USD

Daily Chart: Bitcoin Consolidates After Breakout At the time of writing this article, the price of Bitcoin is hovering around $107,356, indicating a potential consolidation after a significant rebound from the sell-off triggered by geopolitical tensions. Geopolitical tensions had pushed the price of Bitcoin down to around $98,227 last Sunday.

Key technical indicators show a bullish structure. The convergence divergence of the moving average on the 12-hour chart below, along with the buy signal issued by (MACD), is a clear evidence. On Tuesday, the blue MACD line crossed above the red signal line, marking the upward trend of Bitcoin, confirming the bullish momentum and encouraging a higher risk appetite.

The Relative Strength Index ( RSI ) is showing an upward trend, positioned above the midline, indicating bullish momentum. After breaking through the resistance level of $108,000, it may further break through the integer resistance level of $110,000, with the RSI nearing the overbought region.

(Source: TradingView)

However, traders may still want to pay attention to tentative support areas, such as the 50-period exponential moving average (EMA) at $105,185, the 100-period EMA at $103,423, and the 200-period EMA at $99,608, in case of a trend reversal.

Latest News on Altcoins: Ethereum and XRP Continue Recovery Momentum As of the writing of this article, the price of Ethereum is maintaining a stable upward trend around 2,451 dollars. In the 12-hour chart below, the 100-period moving average (EMA) is at 2,426 dollars, and the 200-period moving average (EMA) is at 2,373 dollars, providing support for its downward movement.

On the upside, Ethereum faces resistance at $2,481 below the 50-period moving average (EMA) during the same time period.

A breakout is expected in the coming trading days, especially under the influence of the MACD buy signal. If traders maintain a high-risk appetite, favorable factors may be boosted, with target levels at $2,570 (which was tested last Friday) and $2,882 (the last test of this resistance level was on June 12).

(Source: TradingView)

On the other hand, XRP is approaching a potential descending wedge breakout as bulls continue to test the resistance level of the 100-period EMA at $2.21 on the 12-hour chart.

Although XRP slightly fell to $2.17 on Thursday, the MACD issued a buy signal, and traders are considering seeking exposure, suggesting that XRP may continue to remain at a high level.

(Source: TradingView)

However, given that the RSI has retreated back toward the midpoint after rising to 55 on Wednesday, traders may need to lower their bullish expectations. If the downward trend accelerates and breaks below the 50-period moving average at $2.18, key levels to watch include the psychological level at $2.00 and the weekend low at $1.91.

(Source: FXstreet)