The Blockchain Bulletin, Apr 19: Trump’s Criticism of Powell and Bitcoin Surge

Hey folks! Welcome to the latest edition of the Blockchain Bulletin, where we provide you with significant developments that took place over the last 24 hours. President Donald Trump has amplified his public criticism of Federal Reserve Chairman Jerome Powell for not cutting interest rates. Trump accused Powell of not acting swiftly while other central banks, like the European Central Bank (ECB), move aggressively. 

On his Truth Social platform, Trump went so far as to demand Powell’s removal, claiming that the U.S. central bank is lagging behind global counterparts in terms of policy action. He further cited that with price reduction and tariff revenue, it would be the perfect time to lower interest rates. This rhetoric comes right after Powell’s warning in Chicago about the potential for higher inflation and slower economic growth due to Trump’s tariffs.

Meanwhile, Peter Schiff launched a new attack on Bitcoin, accusing Trump of backing the reserve proposal as a way to reward cryptocurrency donors. In his X post, Schiff argued that neither the United States nor any other major country would ever buy Bitcoin, asserting that world leaders “are not that dumb.” For Schiff, gold remains the superior store of value, a sentiment that further intensifies the ongoing debate between traditional assets and emerging digital currencies.

However, despite the broader economic uncertainties, the world’s leading cryptocurrency is consolidating within a tight range. As Bitcoin’s price nears $85,000, analysts are predicting a breakout. According to YouTuber Crypto Rover’s analysis, traders are warned that “99% will get trapped by Bitcoin here,” referring to the current low volatility that has many anticipating an imminent price surge. On the hourly chart, Bitcoin remains under key resistance, with many watching closely for a breakout above the current range highs.

Related: Walrus Price Prediction 2025-35: Will It Hit $50 by 2035?

As of April 19, 2025, Bitcoin’s price hit $85,109.50, according to CoinMarketCap data. The digital asset saw a modest 0.53% increase in price over the last 24 hours, contributing to a market cap of $1.68 trillion. Despite a sharp 38.27% drop in trading volume, which now stands at $13.22 billion, Bitcoin continues to climb, signaling robust market sentiment. The total supply of Bitcoin stands at 21 million, with 19.85 million in circulation, meaning the cryptocurrency is holding steady and showcasing impressive price movement, especially as its chart reflects a sharp upward trend following a period of stability.

On the institutional side, cryptocurrency exchange eXch announced plans to shut down by May 1, 2025, following allegations of laundering $35 million from Bybit. According to an update from eXch’s core team, the decision to cease operations followed a majority vote, driven by the belief that the exchange was compromised. The situation became even more dire when reports suggested that North Korea’s Lazarus Group was involved, laundering a portion of the $1.4 billion stolen funds through the platform. As the investigation unfolds, eXch is now the subject of a transatlantic operation aimed at dismantling the service and pursuing legal charges.

Meanwhile, NBA Hall of Famer Scottie Pippen recently sparked excitement in the crypto community, predicting that the most explosive altcoin season in history might begin this week. Pippen, a long-time crypto enthusiast, pointed out that such altcoin rallies often take place roughly 340 days after Bitcoin’s halving events. Using this as a basis, he identified April 20, 2025, as the ideal time for a potential altcoin market surge. Pippen shared a chart on X comparing past altcoin market cap surges in April 2017, 2021, and projecting a similar pattern for 2025. 

Despite the tariff structure, policy changes, and the battle between Bitcoin and gold, the crypto ecosystem keeps evolving. With majors nearing significant resistance and the alt-season just around the corner, the landscape of crypto remains as dynamic as possible. From Trump’s critiques to Schiff’s attacks and, of course, the whole price action of bitcoin, there is only one certainty in crypto-dom itself: unpredictability, and that is precisely why it keeps people coming for more.

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