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⚖️ BTC Steady Amid Fed Drama — Cook to Sue Trump
Bitcoin is holding near $110,700 on Wednesday after a slight rebound from the prior day’s drop.
Fed Governor Lisa Cook has announced plans to take legal action against President Trump over her dismissal.
Meanwhile, US-listed spot Bitcoin ETFs attracted $88 million in inflows on Tuesday, though rising leverage in the market heightens the risk of a potential squeeze.
Bitcoin Holds Ground as Trump-Fed Clash Escalates
After sliding 12% from its ATH of $124,474 on August 14 down to $108,666 earlier this week, BTC found support and stabilized at $110,700 on Wednesday.
Cook’s announcement of legal proceedings against Trump hasn’t moved either BTC or the USD in early trading.
Institutional demand appears to be stabilizing: data from SoSoValue shows $88.2 million in inflows into spot Bitcoin ETFs on Tuesday, ending a six-day outflow streak since August 15.
Leverage Build-Up Raises Squeeze Risk
A K33 report notes that leverage in BTC perpetuals has climbed to two-year highs, with open interest increasing by 13,472 BTC from Friday to Monday.
On Saturday, BTC rejected a key broken trendline, dropping over 5% into Monday and slipping below the 100-day EMA ($110,827). A modest rebound followed, bringing the price back above the EMA, where it sits at around $110,700 midweek.
If BTC continues to hold above the 100-day EMA, the next upside target lies near $116,000.
#BTCWhalesMoveToETH #CryptoRally #FedDovishNow #FamilyOfficeCrypto $XRP
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