Bitcoin (BTC) price to standstill at $ 85k as Trump increases pressure on Fed’s Powell
Bitcoin (Btc) is the tread of water just below $ 85,000 late Thursday as tensions between US president Donald Trump and Federal Reserve Chairman Jerome Powell added another layer of uncertainty for investors.
Markets Dipped on Wednesday After Hawkish’s comments from Powell, who criticized Trump’s tariff policy, saying it would likely result in a slow economy and rising prices – economists call it “stagflation.” In his comments, Powell clarified his bigger focus for now at prices, suggesting a lighter fed policy than thought.
Trump-nominated the former banker of investment and lawyer as the fed chair in his first term (Powell was given a second four-year term by President Biden)-he expressed his unpleasantness to Powell since the White House was obtained. However, Powell, who is set to remain at the top of the Central Bank until May 2026, has repeatedly said his decision to end his term and suggested that the President have no stance to burn him.
On Thursday, the WSJ reported That Trump has privately discussed Powell’s firing for months, according to people who are familiar with this. Former Fed governor Kevin Warsh was reportedly awaiting the wings in exchange for Powell, but Warsh removed the President not to move against the fed chair, according to the story.
Joining Warsh in that warning is Treasury Secretary Scott Bescent, who said the move could have grown that US markets because the central bank should be independent from political influences.
Odds Trump’s deleted Powell this year in Blockchain based on the polymarket polymarket prophecy rose to 19%, the highest reading since the launch of the contract launch.
Trump’s comments come to the rear of the European Central Bank (ECB) cutting Basic interest rates For the seventh consecutive occasion on Thursday because it warned a worsening perspective on growth.
More pressure on the markets comes from the latest Philadelphia Fed manufacturing index, Na -Published Thursday morning, which showed a nosedive in this month’s activity, sinking to its lowest level (-26.4) for two years. Meanwhile.
The S&P 500 and Tech-Heavy Nasdaq Stock Index exchanged almost flat in the sun.
A view of the crypto market has shown BTC and Ethereum’s ETH up to 0.8% in the past 24 hours. Most of the CoinDesk 20 indexes are exchanged higher during the day, with Bitcoin (BCH) cash, close and a leading acquisition.
How are the Bitcoin entrepreneurs position in the midst of increasing fear of Wall Street?
Bitcoin stabilized between $ 83k and $ 86K with entrepreneurs pursuing bullish bets while still looking for downside protection.
In the derivit, merchants are actively pursuing 90k calls to $ 100k strike that expired in May and June, the exchange Says In a market update Thursday. Demand for calls indicates expectations for an ongoing price rally.
Some of these bullish bets are funded by premiums collected by selling options.
At the same time, there has been an updated interest in buying $ 80K options that expires this month, representing preparations for potential price declines. Buying an option to put is similar to buying insurance against price slides.
Different two-way flow came as the VIX, the fear of Wall Street measuring the 30-day indicated volatility, remains fixed above the 50-day average, despite pullback from recent highs of more than 50.
VIX warns that the macro situation is still not resolved than resolving, the exchange said X..
