Close Menu
CryptoHoppers.comCryptoHoppers.com
    What's Hot

    Ethereum accounted for over 50% of $2.3b lost to hacks and exploits in 2024

    January 17, 2025

    Binance.US Halts USD Deposits, Blames SEC’s ‘Witch-hunt’ |

    June 11, 2023

    Bitwise files for Solana ETF via Delaware trust

    November 21, 2024
    Facebook X (Twitter) Instagram
    • Privacy Policy
    • Get In Touch
    Facebook X (Twitter) Instagram
    CryptoHoppers.comCryptoHoppers.com
    • News

      China’s Biggest Bitcoin Treasury Firm Plans $500M Stock Sale To Buy More Crypto

      September 17, 2025

      Kart Rumble eyes $200k milestone as early momentum builds

      September 15, 2025

      Bitcoin Knots Tightens Grip, Snags Over a Quarter of Network Nodes

      September 14, 2025

      XRP Price At $23, Dogecoin To $2, And Solana At $1,800? Analyst Unveils 2026 Predictions

      September 13, 2025

      World Liberty Financial Nets Trump Family Crypto Billions

      September 12, 2025
    • Technology

      Chainlink Teams Up with Taiko to Power Institutional-Grade DeFi on Ethereum

      September 17, 2025

      London Stock Exchange Launches Blockchain Platform for Private Funds

      September 16, 2025

      Dogecoin’s next big move – Will the price slingshot to $1.58?

      September 15, 2025

      Bullish patterns in Trump Coin face whale-sized risks

      September 14, 2025

      WisdomTree Brings Private Credit Onchain With CRDT on Ethereum and Stellar

      September 13, 2025
    • Learn/Guide

      Nakamoto set to acquire BTC Inc following successful audit

      September 17, 2025

      Chainlink joins AethirCloud’s AI Unbundled Alliance to support Web3 AI infrastructure

      September 16, 2025

      Base launches Solana bridge

      September 15, 2025

      Prenetics now holds 228 BTC and buys 1 BTC daily

      September 14, 2025

      Rabby Wallet integrates XRPL EVM chain with Peersyst

      September 13, 2025
    • NFTs

      Slimesunday’s Magnum Opus: ‘Banned from New York’ Blows the Lid Off Digital Censorship | NFT CULTURE | NFT News | Web3 Culture

      July 22, 2025

      1mouth Analog: miirror’s Raw Leap from Digital to Handmade Chaos | NFT CULTURE | NFT News | Web3 Culture

      May 9, 2025

      NFTCulture Expands Into TCGs with Cardcore.xyz: Where Digital Collectibles Meet Competitive Play | NFT CULTURE | NFT News | Web3 Culture

      May 8, 2025

      From Moonshots to Broken Links: The Rise and Fall of CloneX | NFT CULTURE | NFT News | Web3 Culture

      April 24, 2025

      Pacific Spirit: Vinyl Meets Code in a Groundbreaking Generative Drop on Art Blocks | NFT CULTURE | NFT News | Web3 Culture

      April 16, 2025
    • Regulation

      Bullish Secures New York BitLicense, Opens Door to U.S. Crypto Trading

      September 17, 2025

      UNDP Bets on Blockchain Education as Government Academy Prepares for 2025 Launch

      September 16, 2025

      Why India Won’t Legalise Full Crypto Laws Yet

      September 15, 2025

      Why the GENIUS Act, Not State Licenses, Could Decide Hyperliquid’s USDH Future

      September 14, 2025

      Coinbase Files Motion to Sanction SEC Over Missing Gensler Texts

      September 13, 2025
    • Business

      Metaplanet Is About to Drop $881M Into Bitcoin, Here’s the Timeline

      August 27, 2025

      Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

      November 17, 2024

      Leading Eastern European Exchange Exmo Sells Business in Russia, Belarus

      November 16, 2024

      Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

      November 15, 2024

      Bitcoin Mining Company Mara Holdings Now Holds 26,747 Bitcoin: Q3 Earnings Report Reveals

      November 14, 2024
    • Live Pricing
    CryptoHoppers.comCryptoHoppers.com
    Home » Bitcoin forms bullish pennant; Trump, Fed tensions worsen
    News

    Bitcoin forms bullish pennant; Trump, Fed tensions worsen

    April 19, 20253 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Bitcoin forms bullish pennant as tensions worsen between Trump, Fed chair Jerome Powell
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Bitcoin may be on the cusp of a strong bullish breakout as President Donald Trump considers replacing Jerome Powell as current chair of the Federal Reserve, even though he does not have the authority to do so.

    Regardless, if the markets start pricing in lower future interest rates, it typically weakens the dollar and boosts demand for alternative assets like Bitcoin (BTC).

    So far, Powell has resisted raising interest rates.

    At last check Saturday, Bitcoin was trading at $85,232.30. Its price has remained between the support and resistance points at $84,000 and $85,000, up by about 14% above the lowest point this month. See below.

    Source: CoinGecko

    Under the U.S. Federal Reserve Act, the president can’t fire the chair. The Fed is designed to be independent of political influence so it can make decisions in the best interest of the economy, even if they’re unpopular with the White House.

    But Trump’s White House has normalized challenging virtually all political precedents, such as defying court orders on immigration and punishing news organizations that it doesn’t like.

    And now, according to Kevin Hassett, the National Economic Council director, Trump is studying whether he has the authority to replace Powell. His statement came after Trump told the press: 

    “I’m not happy with him. I let him know it. And oh, if I want him out, he’ll be out of there real fast, believe me. If we had a Fed chairman who understood what he was doing, interest rates would be coming down.”

    Trump’s statement followed Powell’s insistence that the Fed was not in a hurry to cut interest rates. Instead, the bank is focusing on Trump’s tariffs and whether they will lead to higher inflation. Mary Daly, another Fed official, stated that rate cuts would need to be delayed if inflation persisted at high levels.

    Experts believe that Trump can only fire Powell for cause, which is often interpreted to mean misconduct. Should Trump remove him without cause, it could attract major legal challenges.

    CNN reported that Trump is considering former Fed governor and crypto startup investor Kevin Warsh to be Fed chair once Powell’s time ends.

    What does it mean for Bitcoin?

    Cryptocurrency bulls see firing the Fed chair as an erosion of confidence in the central bank. The theory is that such a move would drive the U.S. dollar lower and Bitcoin higher in the long term. 

    Historically, currencies of central banks that lack independence often underperform. Examples of these are the Turkish lira and the Zimbabwe dollar.

    The 4H chart below shows that Bitcoin has been in a tight range in the past few weeks. Notice how it has moved slightly above the 50-period moving average.

    Bitcoin price
    BTC price chart | Source: crypto.news

    Most importantly, the coin has formed a bullish pennant. This widely recognized bullish pattern consists of a vertical line and a symmetrical triangle.

    It often leads to a strong bullish breakout when the triangles are nearing their confluence.

    Therefore, Bitcoin is expected to have a strong bullish breakout, with the next point to watch being at $88,585, its highest level in April.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    China’s Biggest Bitcoin Treasury Firm Plans $500M Stock Sale To Buy More Crypto

    September 17, 2025

    Kart Rumble eyes $200k milestone as early momentum builds

    September 15, 2025

    Bitcoin Knots Tightens Grip, Snags Over a Quarter of Network Nodes

    September 14, 2025

    XRP Price At $23, Dogecoin To $2, And Solana At $1,800? Analyst Unveils 2026 Predictions

    September 13, 2025
    Top Posts

    US Marshals missed deadline for report on Silk Road Bitcoin to Senator Lummis

    February 2, 2025

    5 Best Anonymous Crypto Wallets (No KYC) in 2024

    July 21, 2024

    Binance.US’s market share nosedives after SEC lawsuit

    June 18, 2023

    Welcome to CryptoHoppers.com! Stay informed with the latest updates, trends, and insights from the dynamic world of cryptocurrencies. From Bitcoin to altcoins, blockchain technology to decentralized finance (DeFi), we cover it all. Discover expert analysis, market trends, regulatory developments, and exciting innovations shaping the crypto industry.

    Top Insights

    China’s Biggest Bitcoin Treasury Firm Plans $500M Stock Sale To Buy More Crypto

    September 17, 2025

    Kart Rumble eyes $200k milestone as early momentum builds

    September 15, 2025

    Bitcoin Knots Tightens Grip, Snags Over a Quarter of Network Nodes

    September 14, 2025
    Advertisement
    Demo
    CryptoHoppers.com
    Facebook X (Twitter) Instagram
    • News
    • Technology
    • Learn/Guide
    • Regulation
    • NFTs
    • Business
    • Live Pricing
    © 2025. Designed by CryptoHoppers.com.

    Type above and press Enter to search. Press Esc to cancel.