Trump dey appeal Cook removal before Fed cut, Bitcoin dey surge
Donald Trump don appeal one court order wey block im decision for August 25 to fire Fed Governor Lisa Cook. Justice Department talk say the power wey president get to remove "for cause" na big power and dem no suppose use court check am. New mortgage papers from May 2021 show say Cook talk true say her Atlanta house na second home, e make any fraud allegations weak. The appeal come few days before the first Fed cut since December 2024, as CME futures give more than 96% chance say dem go cut 25 basis points. If rates drop, e fit make risk assets like Bitcoin, wey dey near record high amid political and money wahala, strong. Traders need watch legal papers, Fed talk, and things like BlackRock man Rick Rieder wey fit be next Fed chair, so dem go fit know how market go behave before the Fed cut.
Bullish
The appeal dey increase political and legal wahala, weh be di kind background weh Bitcoin dey often rally. Expectation say Fed go cut rates dey push yield down and make investors enter risk assets like Bitcoin. For short term, traders fit increase their Bitcoin positions before di expected rate cut. For long run, ongoing monetary and policy risks fit support steady demand for Bitcoin as hedge. These combined factors show say Bitcoin get better chance to go up.