NewsBTC
Jun 27, 2025 upd. 30 Jun

Bitcoin Steady as Trump Considers Replacing Fed Chair Powell

2 min

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.