Bitcoin price news: BTC slides as Fed chair nominee Warsh says Trump didn't demand rate cut
Bitcoin fell as Fed nominee Warsh stated Trump never demanded rate cuts, emphasizing Fed independence.Summary
Bitcoin's price declined towards $75,000 as Federal Reserve chair nominee Kevin Warsh asserted during his Senate confirmation hearing that President Donald Trump never pressured him to cut interest rates. Warsh stressed the independence of the Federal Reserve, countering speculation about political influence on monetary policy. He also expressed a positive view on digital assets, calling them "already part of the fabric of our financial services industry." The market downturn, with the Nasdaq and S&P 500 also falling, mirrored BTC's slide. Crypto-related stocks like Coinbase, Robinhood, Galaxy, and Circle experienced significant drops. Analysts suggest that while Warsh may favor lower rates, his appointment could be beneficial for crypto policy due to his deep ties to the digital asset industry and his view of Bitcoin as "the new gold for people under 40." A more proactive easing stance from the Fed could lead to a high-liquidity environment, potentially boosting Bitcoin's price.
(Source：CoinDesk)