The new year started well for cryptocurrency investors after 3 difficult months. However, in the last quarter we saw the kind of retreat we are used to. BTC price dropped by around $10,000 after testing the resistance zone. Trump’s portrayal of the Greenland crisis as the rabbit in the hat formed the basis of this week’s sales. As a matter of fact, we warned about this on Sunday. So what happens now?
Critical Minutes for Cryptocurrencies
At 6pm today, Powell is expected to testify at Cook’s Supreme Court hearing. Powell, who said the previous week that Trump threatened him with court action for not lowering interest rates, will now be closely watched for his statements. Possibly negative statements made by the Fed regarding its independence may negatively affect risk markets.
Trump, who tried to dismiss Cook last year, was blocked by the court, and Cook asked the court to allow him to remain in office until the process was completed. The court found Cook right on this issue and kept him in his post, but due to objections, the issue was taken up to the Supreme Court.
Powell’s Saying things like “Similar pressures are being put on me because I do not reduce interest rates” will not be of any use to cryptocurrencies. If the court rules against Trump, then it will confirm the independence of the Fed and probably Fed members will make a maximum of two reductions to these 2. In the opposite scenario, we could see the Fed’s hawkish members being dismissed while the Fed’s independence is in danger, and a great chaos begins.
Cryptocurrencies Latest Status
After the sales wave led by Japanese bonds, treasury bonds recovered. However, the sale of US bonds by many European-based pension funds worries investors as it heralds a larger wave of economic reaction. Although Trump cares about the rise of the stock market, his stubbornness such as Greenland or high tariff rates tires the markets.
at 17:45 Trump’s He is expected to meet with EU leaders. He will then hold meetings with businessmen and try to attract more investments to the USA. Although it is unlikely at 18:00 Customs Tariff decision It may come, but the expectation is that it will be announced on February 20. For now, BTC maintains 88 thousand dollars at the time of writing.
