Fed Firing Powell Boost Bitcoin as Traders Dey Eye Rate Cuts
De ting de wan remove Federal Reserve Chair Jerome Powell don dey build as dem dey report say White House dey back search for who go succeed am and Republican dem dey confirm am. On-chain and prediction-market indicators don rise: Polymarket chance for Powell firing don increase from 16% to 26%, and Rep Anna Paulina Luna don talk say e sure say e go leave soon. Former President Donald Trump talk say e be because Federal Reserve Eccles Building renovation cost reach $2.5 billion. Critics dey warn say if dem weaken central bank independence e fit spoil US credit and shake market. Treasury Secretary Scott Bessent talk say formal replacement process dey, and Fed critic Bill Pulte hint say Powell fit even resign. Traders believe say if the new boss be soft on rate cuts, e good for Bitcoin. New Fed chair wey fit cut rates and stop balance-sheet run-off fit make market get more money. Bitcoin price now dey about 4.5% lower than e record high near $123,000. Crypto market cap stand for $3.68 trillion.
Bullish
If dem comot Powell and put one dovish Fed chair wey get soft stance, dem go likely reduce interest rates and stop the balance-sheet gowans. For short term, dis expectation dey drive bullish tins and more trade volume for Bitcoin as investors dey expect more liquidity and cheaper loan. For long term, steady rate cuts fit bring more money go risk assets, sustain broad crypto bull market. Historical data show say Bitcoin dey rally wen Fed show dovish signal. Traders dey see these political gbedus as one kind better factor for Bitcoin price, dem dey expect fresh momentum go high like never before.