Bitcoin simply took an enormous hit, sliding towards the $81,000 mark as markets digest the information: Kevin Warsh has been formally nominated by President Trump to succeed Jerome Powell as the subsequent Federal Reserve Chair. Whereas Warsh has a historical past of being “crypto-friendly”—even calling Bitcoin a “policeman” for dangerous financial coverage—the market is reacting to his repute as a financial hawk. On this video, we break down why the “Warsh Shock” triggered $1.8 billion in liquidations and what his management means for the way forward for liquidity, rates of interest, and your portfolio.
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