Bitcoin (BTC) briefly surpassed the $92,000 mark early on Monday as the cryptocurrency market began the week in positive territory. The flagship cryptocurrency reached an intraday high of $92,406 but lost momentum and moved to its current level of $90,661.
Despite the decline, BTC is marginally up over the past 24 hours. However, with selling pressure increasing, the price could slip into the red.
Meanwhile, the tension between Federal Reserve Chair Jerome Powell and President Donald Trump escalated after the US Department of Justice opened a criminal probe into Powell’s conduct. Powell believes the investigation is due to political pressure because interest rates are higher than what President Trump would like them to be.
Report Claims Most Debanking Due To Govt Pressure
A report by the Cato Institute has found that most debanking cases in the US are due to government pressure and not independent decisions by financial institutions. The report challenges the narrative that account closures are the result of political or religious bias by financial institutions. The purport identified three primary forms of debanking. The first, political or religious debanking, targets accounts based on the account holder’s beliefs or political affiliations. The second, operational debanking, sees banks end their association with a customer due to business reasons. The third, government debanking, occurs when federal authorities pressure financial institutions to cut ties with certain clients. Cato Institute analyst Nicholas Anthony stated,
While media and political narratives often attribute these closures to political or religious discrimination, this study finds that the majority of debanking cases stem from governmental pressure.
Anthony added that public records revealed several instances when officials intervened in financial markets either directly or indirectly to influence how banks manage their customer relationships. Unsurprisingly, crypto companies feature prominently in the report. Crypto executives have repeatedly flagged difficulties in accessing financial services, leading to speculation about informal pressure by regulatory authorities.
Trump-Powell Feud Sees Sharp Escalation
In a major escalation that puts the Fed’s independence in jeopardy, Federal Reserve Chair Jerome Powell confirmed that the US Justice Department served the central bank with grand jury subpoenas and even threatened a criminal indictment. Powell stated in a video posted on Sunday that federal prosecutors were probing his June Senate testimony linked with the $2.5 billion renovation of the Fed’s headquarters. Powell claimed the move was in retaliation for the Fed holding interest rates higher than President Trump would like.
The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.
However, Trump downplayed the DOJ investigation, claiming he had no knowledge of it. However, he took a dig at Powell, stating,
I don’t know anything about it, but he’s certainly not very good at the Fed, and he’s not very good at building buildings.
Tether Freezes $$182M USDT
Tether has frozen $182M USDT across five Tron wallets in the past 24 hours. The wallets in question hold between $12 million and $50 million each. However, the reasons behind the sudden freeze are not yet known. One reason behind the move could be illicit transactions, as the move comes after Chainalysis data revealed that stablecoins account for 84% of all illicit crypto transaction volume at the end of 2025. Another report by AMLBot stated that Tether froze around $3.3 billion in assets between 2023 and 2025, blacklisting around 7,268 crypto wallets.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) started the week in positive territory, reaching an intraday high of $92,406 early on Monday. However, it lost momentum as selling pressure took over and dropped to its current level of $90,429. With momentum waning, the flagship cryptocurrency is marginally down during the ongoing session.
Markets lost momentum as the tension between President Donald Trump and Fed Chair Jerome Powell escalated after the Department of Justice served the bank with subpoenas and threatened a criminal indictment. In an unprecedented video address on Sunday, Powell said the action was due to “political pressure” as the Fed set interest rates based on its best assessment of what will serve the public rather than following the preferences of the president. The tension between Trump and the Fed creates headwinds for risk assets. However, analysts believe a systemic correction in equities could bring renewed demand for Bitcoin’s “non-sovereign attributes.” Bitunix analysts stated,
When confidence in dollar credibility and central bank independence is questioned, decentralized assets tend to receive narrative-driven risk premia. Over the long term, if political interference in monetary policy becomes structural, Bitcoin’s role as a “non-sovereign risk asset
is likely to be further reinforced.”
Bitcoin analyst Will Clemente agreed with the analysis, stating,
This environment is literally what Bitcoin was created for. The President is coming after the Fed chair. Metals are ripping as sovereigns diversify reserves. Stocks & risk assets at record highs. Geopolitical risk rising.
Matrixport data indicates a gradual improvement in crypto investor sentiment, increasing the probability of a market recovery. The crypto platform stated in a post on X,
The moving average of our Greed & Fear Index is forming a clear base, a condition that historically coincided with Bitcoin’s bottoming phase.
BTC ended the previous weekend in positive territory, rising 0.99% to $91,494. Bullish sentiment intensified on Monday as the flagship cryptocurrency rose 2.60%, crossing $93,000 to $93,870. Selling pressure returned on Tuesday as the price dropped to a low of $91,203 before reclaiming $93,000 and settling at $93,722. Selling pressure intensified on Wednesday as BTC fell nearly 3% to $91,279. Sellers retained control on Thursday as the price briefly fell to a low of $89,200 before settling at $91,026.
Source: TradingView
BTC faced volatility on Friday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as the price fell 0.56% to $90,515. Price action was mixed over the weekend as BTC registered a marginal drop on Saturday before rising 0.54% on Sunday to $90,872. The flagship cryptocurrency reached an intraday high of $92,406 during the ongoing session before losing momentum and moving to its current level of $90,540, down 0.39%.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.