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Bitcoin climbs above $89,000 as U.S. dollar tumbles on President Trump's remarks
The president said he isn't concerned about the dollar's recent declines, sending the greenback plunging even lower.
Updated Jan 27, 2026, 9:27 p.m. Published Jan 27, 2026, 9:23 p.m.
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What to know:
- Bitcoin rallied above $89,000 as remarks by President Trump sent the dollar to its lowest level in nearly four years.
- Gold rose to a new record above $5,200 per ounce following the president's comments.
- One analyst is seeing a bullish technical divergence which could send bitcoin back to $95,000 in short order.
Bitcoin caught a very modest bid on Tuesday as the U.S. dollar fell to new multi-year lows following remarks by President Donald Trump
Speaking to reporters ahead of a scheduled speech in Iowa, the president said the dollar is doing great and that he wasn't concerned about the greenback's recent declines.
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Already falling over the past week and down sharply again on Tuesday, the U.S. dollar index (DXY) tumbled further following the president's comments to 95.80, its weakest level in about 4 years.
After languishing below $88,000 during most of the session, bitcoin advanced to $89,300, up 2.2% over the past 24 hours. Ethereum's ether (ETH) bounced above $3,000, higher by 3.9%.
In the middle of a pause following its breathtaking rally above $5,000 per ounce, gold resumed its move higher on the weaker dollar, pushing to a new record of $5,215, up 1.8% for the session.
Read more: Bitcoin miners surge higher as Anthropic's fundraising efforts boost AI spirits
BTC bounce to $95,000?
While crypto’s short-term outlook remains challenged, some technical analysts see signs of an incoming reversal.
According to Bitcoin Vector, the research service from Swissblock and well-known analyst Willy Woo, a significant bullish divergence is forming between bitcoin's price and its RSI momentum indicator. Similar setups have historically yielded returns of around 10%, the team noted.
"We are likely at the genesis of a major bullish reversal," said Bitcoin Vector. "A return to $95,000 is looking likely."
More For You
Small investors are buying bitcoin. For a rally to succeed, the whales need to join in.
Small wallets have increased their BTC holdings by 2.5% since October's all-time high while large holders trimmed 0.8%, Santiment data shows.
What to know:
- Bitcoin wallets holding less than 0.1 BTC have increased their share of supply to the highest since mid-2024 even as the price holds around the mid-$60,000s.
- Larger holders with 10 to 10,000 bitcoins — the whales and sharks that typically drive major moves — have reduced their positions since the October peak.
- The divergence supports choppy, fragile price action because retail demand alone cannot sustain rallies when big wallets are distributing into every recovery.
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