#TrumpCryptoSupport
Trump Confirms Imminent Fed Decision—Bitcoin And Crypto Brace For Huge Price Earthquake:
Bitcoin has struggled to break out in recent months despite hitting a fresh all-time high in May and fears building over a $37 trillion “ticking time bomb.”
The bitcoin price rocketed higher following U.S. president Donald Trump’s November election victory but has struggled to hold onto that momentum as Federal Reserve chair Jerome Powell grapples with a looming, “cataclysmic” crisis that’s headed for the U.S. dollar.
Now, as Tesla billionaire Elon Musk quietly backs a shock dollar collapse warning, Trump has confirmed a decision on the next Federal Reserve chair will be coming out soon, priming the bitcoin price and crypto market.
It’s coming out very soon," Trump told reporters on Air Force One, it was reported by Reuters, referring to his pick for the next Fed chair.
“If we had a good Fed chairman, he would lower rates and if inflation happened in a year from now or two years later, [he would] raise rates,” Trump said in a video posted to X, reiterating his earlier calls for Fed chair Powell to cut interest rates immediately.
The Federal Reserve is now overwhelmingly expected to keep rates on hold during its June and July meetings, with the market split over its September decision, according to the CME FedWatch tool.
We believe if bitcoin maintains support above $105,000, it could target the $120,000 to $125,000 range in June. This will not be catalysed just from the labour market but it could be a domino in multiple catalysts prompting the Fed to cut rates at a faster than expected pace.”
This week, Trump again called for Powell to lower rates, which have been held steady for months after the Fed surprised markets by beginning its rate cutting cycle in September.
The Fed has pointed to the looming impact of Trump’s global trade tariffs as the reason it has left rates on hold, predicting Trump’s so-called Liberation Day barrage of tariffs will cause inflation to spike.
