Bitcoin Price Crashes Below $76K as Kevin Warsh Sworn In as Next Fed Chair
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Bitcoin broke out of a period of subdued trading to drop in a notable leg down to a new multi-week low well under $76,000, occurring hours after Kevin Warsh was sworn in as the seventeenth Chairman of the US Federal Reserve. The sharp move underscores crypto market sensitivity to macro and Federal Reserve developments and raises short-term downside and volatility risk for prices.
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Bitcoin’s seemingly stable and dull price moves over the past couple of days came to an end hours ago as the asset initiated a notable leg down that drove it to a new multi-week low of well under $76,000.
The latest rejection came just hours after Kevin Warsh officially became the seventeenth Chairman of the United States Federal Reserve.
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