Summary
- Bitcoin (BTC), the Nasdaq, and the S&P 500 all weakened after Kevin Warsh’s remarks.
- Warsh’s comment that President Trump had never asked for an interest-rate cut was seen as weakening expectations for policy easing and rate cuts.
- Markets are focused on how changes in rate expectations affect prices in the short term, while over the medium to long term they are watching the potential for Bitcoin to rise if policy shifts to easing and for BTC to recover $100,000.
Forecast Trend Report by Period
Bitcoin and other risk assets weakened after comments by Kevin Warsh, President Donald Trump’s nominee to be the next Federal Reserve chair, tempered expectations for interest-rate cuts.
CoinDesk reported that Bitcoin was trading near $77,000 before sliding to about $75,000 during Warsh’s April 21 confirmation hearing.
Major stock indexes including the Nasdaq and the S&P 500 also fell during the same period, pointing to a broader pullback in risk appetite.
The move followed Warsh’s remark that Trump had never asked for a rate cut, which cooled expectations for policy easing.
Matt Mena, an analyst at 21Shares, said the comment could be interpreted as a sign that there is less urgency for rate cuts. He added, however, that Warsh may still lean dovish as chair.
Warsh has also criticized the central bank for keeping rates too high by relying on lagging data, fueling speculation about a possible policy shift later on.
In the short term, changes in rate expectations are influencing prices. Over the medium to long term, markets are focused on Bitcoin’s upside if the Fed shifts toward easing. Some investors also see the potential for BTC to reclaim $100,000 in the second half of 2026.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
