Bitcoin Rallies Near $90,000 as Trump Dismisses Dollar Concerns
By John Nada·Jan 27, 2026·3 min read
Bitcoin's price surged past $89,400 as Trump downplayed dollar concerns, while gold hit a record high, signaling increased demand for alternative assets.
Bitcoin's price surged sharply on Tuesday, climbing above $89,400 after dipping to $87,100 earlier in the day, according to Bitcoin Magazine Pro data. This rally followed President Donald Trump's remarks in Iowa, where he downplayed worries about the weakening U.S. dollar, asserting he was 'not concerned' and that the dollar was 'doing great.' His comments ignited immediate market reactions, causing the dollar to slide further and alternative assets like gold to gain traction. Gold reached a new all-time high of $5,223 per ounce, reflecting rising demand for hard assets amid growing uncertainty about currencies.
The bitcoin price's surge indicates a favorable macro environment, reversing the previous caution that had characterized trading after last weekend's drop to $86,000. The notable shift in sentiment follows a challenging 24 hours where bitcoin struggled to reclaim the $88,000 level due to Federal Reserve uncertainty, ETF outflows, and bearish technical pressure. However, Monday's breakout above $89,000 shows buyers reasserting control as they adapt to macroeconomic signals ahead of the Federal Reserve's upcoming policy decision.
At the time of publication, Bitcoin was trading at $89,320, with a 2% increase over the last 24 hours and a daily trading volume of $43 billion. The circulating supply stands at 19,981,268 BTC, with a maximum of 21 million.
In tandem with bitcoin's growth, bitcoin mining stocks also soared. Companies like IREN and Cipher Mining jumped over 13%, while Hut 8 and TeraWulf reported gains around 10%. Investors are increasingly rewarding mining companies that diversify into artificial intelligence and high-performance computing infrastructure. Miners are now seen as power and data-center plays rather than solely bitcoin proxies, especially post-halving. This shift highlights the evolving landscape where companies like Cipher, IREN, Hut 8, and TeraWulf are repositioning to secure long-term AI and HPC hosting contracts.
The current market dynamics underscore the resilience of bitcoin as it navigates external pressures and embraces macroeconomic trends. As investors pivot towards alternative assets amid currency fluctuations and market uncertainty, bitcoin's role as a store of value continues to be validated.
In the broader context, these developments signal a transformative moment for both bitcoin and the mining sector. The ongoing shifts reflect a growing acceptance of digital assets as viable alternatives to traditional investments, particularly during times of economic unease. The surge in both bitcoin's price and mining stocks suggests that the market is not just recovering but also evolving in response to macroeconomic indicators and investment trends.