BTC falls after Warsh says Trump did not ask for rate cuts

The crypto market saw a downturn after Federal Reserve Chair nominee Kevin Warsh stated that U.S. President Donald Trump had not asked him to cut interest rates, according to an analysis by CoinDesk. Bitcoin, which had been trading just under $77,000, fell to the $75,000 level during Warsh's confirmation hearing. The decline mirrored a broader market trend, with both the Nasdaq and S&P 500 also falling. Matt Mena, an analyst at crypto ETP issuer 21Shares, noted that while Warsh's comments suggest less urgency for rate cuts, he would likely still favor them as chair. Mena explained that for years, Warsh has argued that the central bank's reliance on lagging data keeps rates unnecessarily high, hindering growth and causing market volatility. He added that Warsh's appointment could also positively impact crypto policy, as he would be the first Fed Chair with deep ties to the industry. Mena predicted that more aggressive monetary easing in the second half of 2026 could see Bitcoin recover to $100,000.