Bitcoin’s price surged today, reaching new heights, and analysts believe several key factors contributed to this climb. According to Markus Thielen, head of research at a leading firm, political uncertainty surrounding the Federal Reserve played a significant role. This is due to growing doubts about the Fed’s ability to remain politically independent amid increasing pressure. The weakening dollar against the euro (0.7% decline) and rising gold prices (2%) further fueled this bullish trend, as investors sought alternative assets like gold and Bitcoin. Thielen attributes these shifts to political developments related to former President Trump’s reported efforts to replace Fed Chair Jerome Powell. This, he claims, shook confidence in the Fed’s autonomy, prompting investors towards cryptocurrencies. The report cites Thielen’s view that concerns about central bank independence remain dominant forces driving price action. Additionally, on a technical level, Bitcoin has broken free from a descending channel resembling a typical Falling Wedge formation—an indication of potential bullish momentum. This pattern is characterized by declining trading volume before the breakout occurs and is often associated with a shift in market sentiment.