The crypto market in 2025 was expected to boom – but things took a sharp turn. Bitcoin surged to $109K after Donald Trump’s inauguration, sparking hope of a fresh bull run. But the excitement didn’t last. Fears over new tariffs and delays in crypto regulation quickly dragged prices back down.
Now, with Bitcoin struggling to stay above $84K, a new wave of uncertainty is hitting the market – and it’s coming straight from the White House.
Trump’s latest attack on Federal Reserve Chair Jerome Powell could shake the very foundations of investor confidence. And in a market already on edge, that kind of pressure is the last thing anyone wants. Here’s what’s happening.
In a surprising twist, Senator Elizabeth Warren, often critical of Wall Street and the Fed, came to Powell’s defense—though only partly. Speaking on CNBC, she said she still disagrees with many of Powell’s policies, but stressed that protecting the Fed’s independence is critical for the U.S. economy.
“If Chairman Powell can be fired by the president of the United States, it will crash markets,” Warren said bluntly from the New York Stock Exchange.
Her warning: the Fed must stay free from political pressure, or global investors may lose faith in the U.S. system—comparing such a scenario to “any other two-bit dictatorship.”
On Thursday, Trump posted on Truth Social, calling Powell “always TOO LATE AND WRONG” and adding that his “termination cannot come fast enough.”
On Thursday, Trump posted on Truth Social, calling Powell “always TOO LATE AND WRONG” and saying his “termination cannot come fast enough.”
A senior White House official later clarified that it wasn’t an official attempt to fire Powell. Still, the harsh tone shook markets and alarmed lawmakers.
Powell has said before that a president can’t fire a Fed chair without cause – and so far, no legal steps have been taken.
During Biden’s term, the Fed raised interest rates aggressively to fight post-pandemic inflation. Although rate cuts began in 2024, Powell recently signaled he’s not in a hurry to cut further – especially with Trump’s changing tariff plans creating more uncertainty.
Trump briefly calmed markets with a 90-day pause on new tariffs. But when that pause ends, renewed trade tensions could trigger another market drop. If Trump also tries to remove Powell, things could get worse. Several senior senators have warned it would only add to the instability.
Markets are already sensitive to signals from the Fed and political headlines. If the White House interferes with the Fed’s independence, it could do more than shake investor confidence. It could damage trust in the U.S. financial system itself.
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