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Bitcoin experts are in a frenzy as President-elect Donald Trump sharply criticized the Federal Reserve’s current policies, calling interest rates “far too high” despite persistent inflationary pressures. “We inherit a difficult situation from an outgoing administration,” Trump said at his Mar-a-Lago club, adding that officials appear to be “trying everything they can to make life difficult” for his incoming team.
The blunt remarks, made less than two weeks before Trump’s inauguration, raised expectations about a possible shift in U.S. monetary policy and sparked speculation that prices of Bitcoin and other risky assets would rise in the modern year.
Trump’s 2017 playbook: Dollar ‘too robust’, Bitcoin up?
While the economic and geopolitical landscape has changed since Trump’s first term, some market observers see similarities to his 2017 rhetoric. he then criticized the US dollar, which he considered “too strong”, which preceded a noticeable decline in the currency. The US Dollar Index (DXY) peaked near 104 in early January 2017, but began a downtrend that continued into early 2018, reaching a low near 98.
This piercing move in the dollar coincided with the broader risk environment, fueling gains in stock markets as well as in the Bitcoin and cryptocurrency markets. Julien Bittel, director of macroeconomic research at Global Macro Investor (GMI), made the point directly comparison on X
“The last time Trump said something was ‘too high,’ it was the dollar was in January 2017, a few days before his inauguration,” Bittel said, recalling: “Here’s what he said: ‘Our companies can’t deal with them. compete” now because our currency is too strong. And it’s killing us.”
It’s worth noting that last year, Trump also called the recent strength a “tremendous burden on American businesses.” Bittel further argued: “Trump understands the impact of a robust dollar – and the same logic can be applied to high interest rates. They suppress exports, hurt corporate profits and leisurely economic growth.
Speaking about the impact on Bitcoin and the broader cryptocurrency market, Bittel concluded: “What happened next? Well, the dollar began a significant decline, setting the stage for one of the most important macro moves we’ve seen in years – causing a crash in risky assets. Déjà vu? I think so. Let’s see how this plays out.”
Bittel is not the only expert speculating that the DXY index may have already peaked, reflecting the 2017 upward trend. Steve Donzé, deputy CIO for Multi Asset at Pictet Asset Management Japan, shared a widely shared opinion discussed chart on X, with the note “On time. Ready to push back,” while overlaying DXY’s recent moves on top of the currency’s early 2017 trajectory. The chart suggests a similar pattern that could herald renewed dollar weakness in the coming weeks.

In a separate post, financial analyst Silver Surfer (@SilverSurfer_23) pointed out the uncanny coincidence: “DXY peaked on January 3, 2017 – 18 days before Trump’s inauguration. “DXY appears to have peaked on January 2, 2025 – 19 days before Trump’s inauguration.” He characterized the parallel as “crazy history repeating itself,” explaining that he sees a correlation between DXY’s path ahead of both inaugurations.
Such analogies fuel speculation that a repeated decline in the value of the dollar could create an environment favorable to risky assets. If the dollar does enter a modern downtrend – as it did in 2017-2018 – Bitcoin could ride a wave of renewed liquidity and speculative appetite.
At the time of publication, the BTC price was $94,950.

Featured image created with DALL.E, chart from TradingView.com