Trump’s comments, delivered during an event in Iowa, dismissed concerns surrounding the weakening U.S. dollar, stating that he was “not concerned” about its decline and asserting that the dollar was “doing great.” These statements resulted in an immediate market reaction, leading to a further depreciation of the dollar and a corresponding increase in alternative stores of value.
Gold reached a new all-time high of $5,223 per ounce at the time of writing, reflecting heightened demand for tangible assets amidst prevailing currency uncertainties.
It appears that Bitcoin has also benefited from favorable macroeconomic conditions, reversing the earlier caution that dominated trading after the asset’s drop to $86,000 last weekend.
This rally signifies a notable shift in market sentiment, particularly after Bitcoin struggled to reclaim the $88,000 mark for much of the previous 24 hours due to uncertainties regarding Federal Reserve policy, ETF outflows, and persistent bearish technical signals.
The breakout above $89,000 on Monday indicates that buyers are reasserting control in the near term; however, market reactions remain highly sensitive to macroeconomic signals, particularly with the Federal Reserve’s policy decision anticipated later this week.
Companies such as IREN ($IREN) and Cipher Mining ($CIFR) have reported increases of over 13%, while Hut 8 ($HUT) and TeraWulf ($WULF) have posted gains around 10%, contributing to a broader rally across the mining sector linked to AI-related developments.
This trend reflects a growing perception among investors that large-scale miners are evolving into power and data-center enterprises rather than mere Bitcoin proxies, especially in light of tightening post-halving economic conditions.
Firms like Cipher, IREN, Hut 8, and TeraWulf have dedicated the past year to repositioning excess capacity towards long-term AI and HPC hosting contracts, which present more reliable cash flows and enhanced profit margins compared to block rewards alone.
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