BTC Surges as U.S. Dollar Weakens, Gold Hits New Record

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BTC Surges as U.S. Dollar Weakens, Gold Hits New Record

By Manoj Dharra

1)     Bitcoin’s Rally and Dollar Weakness

2)     Ethereum’s Major Upgrade Proposal

3)     Institutional Interest and Regulatory Developments

Bitcoin surged to its highest level since Donald Trump’s “Liberation Day” tariff declarations, as renewed concerns over the president’s push to oust Federal Reserve Chairman Jerome Powell weighed on the dollar.

The world’s largest cryptocurrency climbed roughly 3%, trading near $87,000 and recovering much of the ground lost since Trump’s April 2 tariff announcement, which had rattled global markets.

The renewed weakness in the U.S. dollar is fueling the crypto rally.

Bitcoin’s rebound came alongside another rally in gold, which soared to a new all-time high—underscoring strong investor appetite for assets seen as safe havens and hedges against inflation. With gold marking its 55th record high in the past year, the trend is clear: a weakening US dollar and mounting uncertainty are pushing investors toward alternative stores of value.

Meanwhile, a wallet linked to London-based investment firm Abraxas Capital acquired 2,949 Bitcoin worth more than $250 million ahead of Easter.

Additionally, Texas has officially scheduled a public hearing for April 23, 2025, to discuss a new bill aimed at creating a Strategic Bitcoin Reserve. If passed, the bill would allow the state to purchase $500 million worth of Bitcoin every year.

Ethereum:

Vitalik Buterin has proposed replacing Ethereum’s EVM with RISC-V, an open-source processor architecture, aiming to significantly boost execution speed and efficiency. The upgrade could make smart contract execution up to 100x faster—without disrupting existing contracts. Beyond immediate performance gains, the move supports Ethereum’s long-term scalability and improved compatibility with zero-knowledge proofs.

Following the news, Ethereum’s price rose nearly 3% to $1,653, as investors welcomed the network’s continued push for innovation and future-proofing.

Altcoin Highlights:

XRP gained almost 3%, trading at $2.13, as historical data from CryptoRank shows the token has posted gains in each of the last five Julys—fueling speculation of another bullish summer for the altcoin.

Solana (SOL) is trading at $140.77, up 0.5%, amid rising optimism around a potential U.S.-approved Solana ETF. Traders on Polymarket now place a 77% probability on approval by the end of 2025.

Dogecoin (DOGE) edged up nearly 2% to $0.1618, despite bearish signals from on-chain data. According to crypto analyst Ali Martinez, whales offloaded over 570 million DOGE over the past week—raising concerns about long-term holder sentiment.

Market Outlook:

Analysts point to continued institutional accumulation—particularly through Bitcoin ETFs—and increasing scarcity as catalysts for Bitcoin’s next leg up. However, the timing and scale of the rally remain closely tied to monetary policy. A potential rate cut by the U.S. Federal Reserve in May or June could inject more liquidity into the system, possibly accelerating Bitcoin’s ascent.

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