After President Trump hinted that Kevin Hasset would remain in the White House, the market readjusted its rate cut expectations, reducing the likelihood of him becoming the next Federal Reserve Chair. The prediction market subsequently shifted, boosting Kevin Walsh's chances to about 60%. This statement sparked concerns over tightening monetary policy, leading to a sell-off that caused gold, Bitcoin, and the US stock market to decline. Bitcoin's price, which approached $98,000, retreated to around $94,500.
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After President Trump hinted that Kevin Hasset would remain in the White House, the market readjusted its rate cut expectations, reducing the likelihood of him becoming the next Federal Reserve Chair. The prediction market subsequently shifted, boosting Kevin Walsh's chances to about 60%. This statement sparked concerns over tightening monetary policy, leading to a sell-off that caused gold, Bitcoin, and the US stock market to decline. Bitcoin's price, which approached $98,000, retreated to around $94,500.