Crypto markets defied the turbulence rippling through traditional finance, with Bitcoin reaching a four-week high of $88,500 while US stocks suffered heavy losses. President Trump’s recent attacks on Federal Reserve Chair Jerome Powell and his trade policies fueled this unusual divergence. 2023 has seen US stock markets decline considerably. The S&P 500 dropped 2.4%, the tech-heavy Nasdaq slipped 2.5%, and the Dow Jones lost almost 1,000 points on April 21, marking a significant downturn for US equities. The S&P 500 has now declined by over 12% since the year’s start and the Nasdaq is down nearly 18%. Trump’s criticisms of Powell, coupled with his calls for rate cuts, have fueled volatility in markets.