Investing.com-- Bitcoin rose slightly on Tuesday as sentiment cooled after a holiday rally driven by more buying action from Michael Saylor’s Strategy, while markets also digested U.S. President Donald Trump’s increasing criticism of the Federal Reserve.
Overall risk appetite remained largely skittish amid persistent concerns over the economic impact of Trump’s trade tariffs, as the U.S. engages in a bitter trade war with China.
Broader crypto prices retreated on Tuesday, having largely ducked Bitcoin’s rally through the Good Friday and Easter holidays. The world’s largest cryptocurrency benefited from Strategy adding more Bitcoin to its treasury.
Bitcoin rose 0.7% to $88,194.9 by 01:33 ET (05:33 GMT).
Saylor’s Strategy buys $555 mln Bitcoin
Strategy (NASDAQ: MSTR )- the world’s biggest corporate holder of Bitcoin- purchased 6,556 coins for about $555.8 million, a filing showed on Monday.
The acquisition brings Strategy’s total Bitcoin holdings to 538,200 coins, and was funded using stock offerings- a strategy that has funded a bulk of the company’s coin holdings.
More buy action from Strategy helped improve some sentiment towards Bitcoin, although the crypto was still nursing a tumble from record highs hit earlier this year. Bitcoin was also still trading down 5.6% so far in 2025, as sentiment was rattled by uncertainty over Trump’s policies.
Strategy had earlier in April flagged a nearly $6 billion unrealized loss on its digital asset holdings- an announcement that had rattled crypto markets.
Crypto price today: skittish amid Trump-Fed jitters
Broader crypto prices drifted lower on Tuesday after largely lagging Bitcoin in recent sessions. Risk appetite remained dismal in the face of a U.S.-China trade war and a growing rift between Trump and the Fed.
Trump over the weekend railed against Fed Chair Powell, calling on him to “preemptively” lower interest rates or risk damaging economic growth.
The President’s comments ramped up concerns over the independence of the Fed from the government, with reports suggesting that he was seeking a way to remove Powell before the Fed Chair’s term ends in May 2026.
Powell has so far signaled that the Fed will not cut interest rates soon, and that he plans to serve his full term.
World no.2 crypto Ether fell nearly 4% to $1,584.52, while XRP fell 2.4% to $2.0790.
Solana and Cardano fell 1% and 2.6%, respectively, while Polygon rose nearly 7%.
Among meme tokens, Dogecoin shed 0.3%, while $TRUMP fell 0.4%.