Bitcoin Steady as Trump Considers Replacing Fed Chair Powell

Bitcoin maintained stability as traders anticipated changes at the Federal Reserve. Reports indicate President Donald Trump may replace Fed Chair Jerome Powell, potentially altering interest rate policies.

The Dow Jones increased by over 300 points midweek, positively impacting Bitcoin, which rose to approximately 106,950 before slightly retreating.
Market sentiment suggests that a new Fed Chair could favor lower rates, benefiting risk assets like Bitcoin and Ethereum.
The US dollar fell to a three-year low, while bond yields decreased, indicating potential for easier monetary policy.
Trump is reportedly considering successors to Powell ahead of his term's end in 2026, with inflation concerns influencing this decision.
Traders are pricing in expectations of a more dovish Fed, signaling possible lower interest rates and increased liquidity beneficial for cryptocurrencies.
As of Friday, Bitcoin traded around 106,950, with daily fluctuations between 106,145 and 107,250, reflecting cautious investor interest.
The bullish trend began with equities, driven by tech stocks and reduced Treasury yields, influencing positive sentiment in crypto markets.
Despite uncertainties regarding Powell’s position, speculation about a potential replacement has already impacted market dynamics.