Bitcoin Fluctuates Following Trump’s Statement on Federal Reserve Chair

Bitcoin’s price experienced notable volatility following former President Donald Trump’s clarification that he does not intend to dismiss the current Federal Reserve Chairman, Jerome Powell, should he be re-elected. Trump’s previous remarks had been sharply critical of the Federal Reserve’s policies, creating uncertainty in financial markets, including the cryptocurrency market. These new statements have led to relative stability in Bitcoin’s price, albeit with some fluctuations. Some analysts believe Trump’s recent comments aim to alleviate concerns about the stability of the U.S. economy, while others believe they are merely a political tactic ahead of the election. Despite this, other factors continue to influence Bitcoin’s price, such as inflation, interest rates, and regulatory frameworks, in addition to the technical factors related to the supply and demand for the cryptocurrency.