#TrumpVsPowell The standoff between Donald Trump and Jerome Powell is making waves in the crypto world. Trump has publicly criticized Powell, hinting at removing him as Federal Reserve Chair due to disagreements over interest rates. This tension could impact crypto markets, with some believing it might boost Bitcoin's appeal as a safe-haven asset. Here are some key points¹ ² ³:
- *Potential Impact on Crypto*: Trump's threat to fire Powell could create volatility, but some analysts believe it might strengthen Bitcoin's long-term prospects.
- *Market Reaction*: Bitcoin surged above $85,000 despite market uncertainty, with some speculating it could decouple from traditional markets.
- *Fed Independence*: Powell has asserted the Fed's independence, and the President can't directly fire him due to his 14-year term.
This power struggle may lead to increased interest in cryptocurrencies as investors seek safe-haven assets.⁴