Trump’s Kevin Warsh Nomination Shakes BTC Market
US President Donald Trump has nominated Kevin Warsh, known as a Bitcoin supporter, as the new Federal Reserve Chairman. Warsh will take office after Jerome Powell’s term ends in May, subject to Senate approval. This nomination has sent mixed signals to crypto markets and dollar liquidity; it could prolong the current consolidation. Bitcoin fell below 80,000 dollars for the first time since April 2025, dropping to 78,931 dollars. It is also testing MicroStrategy’s cost basis level (76,037 $) for the first time since October 2023.
Experts and Market Reactions: Liquidity Concerns
Kraken economist Thomas Perfumo stated that Warsh could continue interest rate cuts but market liquidity would stabilize rather than expand meaningfully. Warsh’s skeptical stance on balance sheet expansion could limit measures like quantitative easing. Coin Bureau analyst Nic Puckrin emphasized that the nomination triggered liquidity concerns, leading to crashes in crypto, stocks, and precious metals. The crypto market lost 250 billion dollars in market value over the weekend. According to CME Group data, interest rate expectations have not changed; there’s an 85% chance of rates staying steady at the March 18 meeting, and a 49% probability of a 25 basis point cut on June 17.
BTC Technical Analysis: Oversold and Support Levels
BTC price at 78,931$, 24h +2.10% change in downtrend. RSI 29.55 (oversold), Supertrend bearish, EMA20 86,412$.
- Supports: S1 74,604$ (strong, -5.37%), S2 77,546$ (medium, -1.64%)
- Resistances: R2 79,396$ (strong, +0.71%), R1 84,450$ (strong, +7.12%)
Oversold RSI could signal a recovery, but Fed uncertainty is increasing the pressure.
Source: https://en.coinotag.com/trump-nominates-warsh-as-fed-chair-candidate-btc-impact
