$BTC $ETH $BNB Bitcoin Breaks $92K Amid Fed Subpoena, Strategy’s Billion-Dollar Buys Show Waning Effect
Bitcoin surged past $92,000 at the start of the week after the DOJ subpoenaed the Federal Reserve, sparking global market volatility and a flight to safe-haven assets like gold, which hit a record $4,600.
In what proved to be a high-velocity opening to the trading week, bitcoin ( BTC) shattered its weekend stagnation. After hovering near the $90,500 mark, the premier digital asset surged past $92,000, successfully reclaiming price levels not seen since the Jan. 7 local peak.
The catalyst for the volatility was a geopolitical bombshell: the U.S. Department of Justice (DOJ) issued a grand jury subpoena against the Federal Reserve, targeting officials over the controversial handling of the central bank’s multi-billion-dollar building renovations.
The news immediately sent shockwaves through global markets. Jerome Powell, the Fed Chairman and frequent target of President Donald Trump, framed the investigation as a “pretext” and political retaliation for the bank’s refusal to pivot on interest rate policy. This unprecedented friction between the White House and the Fed spooked traditional investors, triggering a massive flight to safety.
Gold, the standout performer of 2025, capitalised on the chaos, surging past $4,600 per ounce to set a new all-time high. Silver followed suit with a parallel breakout, while the S&P 500 showed remarkable resilience, rallying to within a few points of the historic 7,000 psychological barrier.
For BTC, however, the initial rally proved fragile. The cryptocurrency nearly erased its morning gains in a sharp mid-morning retracement, plunging to an intraday low of $90,128 by 9:30 a.m. EST. The dip was short-lived; less than three hours later, Bitcoin was back above $92,000 following reports of another aggressive treasury expansion by Michael Saylor’s Strategy.
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