Recent events surrounding the selection of potential candidates for the Federal Reserve Chair have led to a significant increase in Bitcoin's price, which has again surpassed the $122,000 mark.
Fed Chair Candidates Selected
U.S. President Donald Trump announced 11 candidates for the Fed Chair position in response to current Chair Jerome Powell's refusal to make interest rate cuts. Among the candidates are economists from major financial institutions such as David Zervos from Jefferies and Rick Rieder from BlackRock.
Bullish Market Sentiment
Following the announcement of the candidates, the price of Bitcoin surged above $122,000. The taker buy volume for Bitcoin hit $1.66 billion in just one hour, indicating a significant increase in investor interest.
Bitcoin Price Predictions
Analysts predict that Bitcoin could reach the $133,000 mark in the near future. Current bullish sentiments in the market suggest that this price increase could continue, with new records in futures open interest for Bitcoin.
The events surrounding the Federal Reserve and the increasing interest in Bitcoin suggest a potential continuation of price growth for this cryptocurrency. Investors and analysts are keenly watching how situations will unfold in the coming months.
