The largest cryptocurrency dropped as much as four per cent to US$81,045, its weakest level since November, before paring losses to around US$82,900. Some traders had hoped the Fed chair announcement might offer a narrative pivot. Warsh, a former central bank governor with deep establishment ties, has recently aligned with Trump’s push for lower rates. But his traditional background and prior hawkish record have left crypto investors unsure which version of Warsh will show up at the Fed.
Bitcoin stuck in a rut after Warsh pick as ETFs shed billions
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