The US President’s latest criticism of Federal Reserve Chair Jerome Powell caused turmoil in US markets, but crypto markets remained unaffected. On April 21, the S&P 500, Nasdaq, and Dow Jones all dropped significantly, with the S&P 500 down over 12% since the start of the year. Trump’s call for interest rate cuts has been met with resistance from Powell, leading to escalating tensions. The Fed is expected to maintain its current policy at the upcoming meeting, with just a 13% chance of a rate cut. The US Dollar Index has also weakened by over 10% this year, reaching a three-year low on April 21. Meanwhile, the crypto market has remained stable, with Bitcoin reaching a four-week high of $88,500. Despite global market turbulence, Bitcoin has shown resilience, according to Bitfinex analysts. This stability has contributed to the total crypto market capitalization holding steady at $2.83 trillion. The ongoing conflict between Trump and Powell is expected to impact financial markets in the coming weeks, with uncertainties surrounding interest rates and trade tariffs.