Bitcoin's price surged above $88,000 briefly on Monday, its highest level since late March, before easing to around $86,800, reflecting a 2.7% increase over the past 24 hours. The rise in Bitcoin's value led to the liquidation of over $97 million in short positions for the cryptocurrency, highlighting a significant shift as many traders betting against Bitcoin closed their positions. U.S. stock markets, however, reflected a downtrend with major indices declining by over 3% amidst concerns about President Trump's erratic trade policies and macroeconomic uncertainties. Recent comments made by Trump, including disparaging remarks about Federal Reserve Chair Jerome Powell, have injected volatility into the markets. Analysts suggest that if Trump follows through with threats to replace Powell, it could create further turmoil in the political landscape, potentially influencing Bitcoin's appeal as an alternative asset. Meanwhile, Ethereum showed limited movement, trading roughly flat at $1,624, having struggled with a significant decline over the past month.

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