Crypto news

Trump Glares at Powell, Bitcoin Sips Tea: Fed Drama Sends Markets Twitching

BBG News

Picture this: Bitcoin, in its usual state of studied nonchalance, hanging out on a Friday like the world’s most unserious digital asset, while the rest of us mere mortals are busy panic-refreshing news feeds. The reason? Oh, nothing much—just the President of the United States threatening to swap out the most powerful central banker as if he’s changing TV channels because the football game is boring. 🍿

Yes, Donald Trump is apparently pondering whether to usher Jerome Powell into early retirement, which feels rather like evicting your smoke detector because you don’t like the sound it makes when you burn toast. This could mean a seismic shift for the Federal Reserve’s stance on interest rates and liquidity. In other words, the sort of drama that keeps economists up at night and Bitcoin enthusiasts wide-eyed with dreams of Lamborghinis. 🏎️

By midweek, as humans do when faced with existential dread, markets did what comes naturally: they rallied. The Dow Jones bounded up 300 points—clearly inspired by the possibility of cheaper money—and Bitcoin, never one to miss a party, pranced to about 106,950 before having a little sit-down (probably to catch its breath).

Investors took this all as a giant, blinking, neon signal: If Trump hands Powell a “thanks for your service” fruit basket and hires someone who’s happier with rate cuts, all those risky assets (hello, Bitcoin and Ethereum) could get a fresh jolt. Meanwhile, the US dollar performed a graceful swan dive to its lowest point in three years, and bond yields did their best “retreating army” impression. Looser money? More dollar debasement? Yes please, say crypto enthusiasts everywhere, while nervously clutching their hardware wallets.

The #USD fell to a three-year low on intensifying speculation that President Trump could soon nominate a new Fed Chair to replace Powell after his term ends next May, a development that could render him a lame duck writes @johnjhardy in today’s #forex update.…

— Ole S Hansen (@Ole_S_Hansen) June 26, 2025

Trump Flirts With a Fed Makeover

Word on the street (well, several reputable news outlets) is that Trump is seriously toying with the idea of giving Powell his marching orders before 2026. No tweet-storm confirmations yet—just the deafening hum of anonymous sources with strong opinions and even stronger coffee. Trump’s never been shy about his dislike for Powell’s tendencies, but now with inflation and election season, the idea seems to have gone from “maybe after lunch” to “maybe before dessert.”

The market reaction was about as subtle as a marching band at a library. Traders leapt to price in a more dovish Federal Reserve. Translation: lower rates, more money sloshing about, and more excuses for people to say “macro” in every other sentence. Crypto, which has spent the last 12 months shivering in monetary Siberia, suddenly spotted a hint of sunshine. Bitcoin, always one to root for the dollar tripping on its own shoelaces, is poised for adventure.

Bitcoin: Confident, Yet Reluctant

Friday’s Bitcoin price: 106,950, give or take a coin. High of 107,250. Low of 106,145. Not exactly the moon mission we’re used to in crypto, but definitely more than background noise. A similar gentle hop for Ethereum and friends. It’s as if traders read “Fed chaos” and thought: “Intriguing, but let’s not spill the champagne just yet.” If talk were money, Bitcoin would be at a trillion by now, but until Powell is actually shown the door, everyone’s hedging their bets.

Meanwhile, stocks led the procession. The Dow bounced, the S&P 500 and Nasdaq gleamed, tech shares smiled for the cameras, and somewhere an AI overlord quietly updated its buy list. Crypto, which gets its cues from global mood swings, duly followed, curtsying politely behind the equities stampede.

Crypto Watches the Washington Soap Opera

The only certainty? Uncertainty. Powell’s still got his chair, Trump likes to keep us guessing, and investors everywhere are quietly whispering “what if” to their portfolios. Crypto folks, more attuned to macro tea leaves than most, know that we’re in for an entertaining summer—so hang on to your wallets.😎

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2025-06-27 19:47

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