Bitcoin slips to $75,500 after Fed nominee Warsh flags no rate-cut request
Bitcoin (BTC) fell to around $75,500 after Kevin Warsh, a US Federal Reserve chair nominee, told the Senate Banking Committee that President Donald Trump did not request a Fed rate cut. The pushback on political-interference concerns eased some “independence” worries, but the timing of future US monetary policy remained unclear.
As traders adjusted rate expectations, Bitcoin moved from just under $77,000 to ~$75,500, signaling a short-term correction rather than a full policy reversal. Crypto-linked equities also sold off: Coinbase fell ~5%, Robinhood dropped ~3.5%, Galaxy Digital slid ~4.5%, and Circle was down nearly 6%. Broader benchmarks weakened too, with the Nasdaq and S&P 500 off about 0.5%.
Warsh is viewed as pro-BTC and has previously called bitcoin “the new gold.” 21Shares strategist Matt Mena said Warsh could still favor lower rates if appointed, and a more proactive easing path later could support upside scenarios for Bitcoin toward $100,000 in 2026. For now, Bitcoin trade remains primarily driven by rate-path timing and macro uncertainty.
Bearish
Warsh’s comments reduce concerns about direct political pressure, but they do not clarify when rate cuts might happen. That ambiguity keeps the market focused on rate-path “timing,” which triggered a near-term pullback in Bitcoin toward $75,500.
At the same time, the selloff in crypto-linked equities (and weaker tech benchmarks) suggests broad risk-off positioning tied to macro uncertainty. Longer-term, Warsh’s pro-Bitcoin reputation and the possibility of future easing could still be supportive, but the immediate reaction is negative, so the net impact on Bitcoin price is bearish.