⚖️ BTC Steady Amid Fed Turmoil — Cook Threatens Legal Action Against Trump
Bitcoin held around $110,700 on Wednesday after bouncing back from recent losses. Meanwhile, Fed Governor Lisa Cook is preparing to sue President Trump over her firing, adding to the market uncertainty.
On Tuesday, US-listed Bitcoin ETFs saw $88 million in inflows, ending a six-day outflow streak, though rising leverage concentration raises the risk of a squeeze.
After a sharp 12% drop from its August 14 peak of $124,474 down to $108,666 on Tuesday, Bitcoin’s correction paused, stabilizing near $110,700 on Wednesday.
The tension between Trump and the Fed adds to the market’s cautious mood. Despite this, institutional demand remains steady, with Bitcoin Spot ETFs attracting fresh capital.
However, perpetuals leverage has climbed to a two-year high, increasing risk as Open Interest rose by 13,472 BTC from Friday to Monday.
Bitcoin recently dipped below its 100-day EMA ($110,827) but managed to rebound and close above it. Holding this level could pave the way for a move toward the next resistance around $116,000.
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