#bitcoin Dips After Trump Comments on Fed Chair Powell
The price of Bitcoin ($BTC ) saw some volatility, trading between $119,000 and $119,650, after President Trump made conflicting remarks about Federal Reserve Chair Jerome Powell.
Despite previously criticizing Powell's leadership as "lousy," #Trump told reporters he's "not planning on doing anything" in terms of removing him. However, reports suggest he recently showed Republican lawmakers a draft letter proposing Powell’s dismissal during a meeting focused on #cryptocurrency legislation.
Trump has long pushed Powell to cut interest rates, arguing that lower rates would help ease the national debt burden. Some market analysts say that if Trump were to actually remove the Fed Chair—a move without precedent—it could severely disrupt traditional financial markets.
In such a scenario, Bitcoin and gold might benefit as investors seek alternative stores of value, especially if the independence of the Federal Reserve comes into question. Any shake-up at the Fed could add to broader market uncertainty, fueling more demand for decentralized assets like $BTC .
