The cryptocurrency Bitcoin has experienced a strong surge today, rising by about 3.4% to trade near the $87,500 level. This increase reflects growing investor interest in digital currencies amid the volatility seen in traditional markets.
This rise in the value of Bitcoin, the largest cryptocurrency by market capitalization, coincides with a noticeable decline in the value of the U.S. dollar. The dollar has dropped to its lowest level in three years against a basket of major currencies, making dollar-denominated assets less attractive to international investors.
The weakness of the dollar is partly attributed to increasing doubts about the independence of the U.S. Federal Reserve, especially after recent statements that raised concerns about potential political interference in the central bank's decisions. Alternative assets like Bitcoin typically benefit from a weak dollar and increasing uncertainty in the markets.
