- Trump signs order to rename Pentagon as the ‘Department of War’.
- The Pentagon was called the War Department until 1949 before the Congress changed its name.
- Political turmoil and Fed rate cuts add pressure to Bitcoin and crypto market volatility.
U.S. President Donald Trump will sign an executive order on September 5 to rename the Department of Defense as the “Department of War”. This step is fueling global political and economic uncertainty, coinciding with Bitcoin and Ethereum navigating September volatility.
Trump’s Executive Order
The White House said on Thursday that the order allows Defense Secretary Pete Hegseth and Pentagon officials to use titles such as “Secretary of War” and “Department of War” in public communications. Hegseth will also recommend legislative and executive actions to make the renaming permanent.
Notably, the Pentagon was formerly known as the War Department until 1949, when Congress renamed it after World War II to emphasize the prevention of conflict in the nuclear age. Trump’s order revives that title.
Cost and Political Debate
Renaming the Pentagon will be costly as updating signs, correspondence, and military installations nationwide could require millions of dollars. For comparison, former president Joe Biden’s base-renaming effort, later reversed by Hegseth, carried a $39 million price tag.
Critics, including Sen. Tammy Duckworth, argue the money should go to military families or diplomatic initiatives. Supporters, such as Hegseth, frame the change as reflecting the “warrior ethos” of the armed forces.
What it Means for Bitcoin and Crypto
Bitcoin historically underperforms in September, and this year appears no different. Meanwhile, the cryptocurrency is facing added pressure from macroeconomic and political events.
The Federal Open Market Committee will meet on September 16–17, with Fed Funds Futures indicating an 87% chance of a 25-basis-point rate cut. Analysts expect lower rates to support crypto assets by boosting liquidity.
As of press time, Bitcoin is trading at $111,651, after a 1.1% uptick in the past day, reducing its monthly loss to 2.2%. Technical analysis revealed that Bitcoin remains under pressure after failing to reclaim its previous range, with repeated rejections around $112,000.
Related: Bitcoin Faces Resistance at $110,700 as Whale Supply Hits 2018 Levels
The price faces heavy resistance at $111,700–$115,500, a zone reinforced by the 50-day and 100-day SMAs. For a possible uptick, bulls must flip this area into support to confirm the correction is over.
Notably, a sustained move above $112,000 could establish higher lows and signal renewed upside momentum..
On the other hand, Ethereum continues its downturn with a 0.5% decline in the past day, now trading at $4,344. Despite this, the token boasts of an impressive 19% surge in the past month.
Last week, global Ethereum exchange-traded products saw $1.3 billion in inflows compared with $682 million for Bitcoin. Over the past 30 trading days, 95% of flows have gone to Ethereum.
Ethereum’s price resistance stands near $4,475–$4,612, especially around the psychological $4,500, which could limit gains. A push higher may target $4,800–$4,900. However, political events could impact the move.
Related: Ethereum Could Become “High-Octane Money,” Says Former BlackRock Crypto Head
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Source: https://coinedition.com/executive-order-fuels-volatility-bitcoin-ethereum-react-to-trumps-move/
