President Donald Trump is actively campaigning for Federal Reserve interest rate cuts, impacting investor sentiment in the cryptocurrency market.
Critique of the Federal Reserve
Trump has publicly criticized the Federal Reserve over a dozen times this year, urging for immediate rate cuts. His remarks are known to impact market sentiment and continue to ripple across financial markets.
Rise of the Fear and Greed Index
The cryptocurrency Fear and Greed Index has risen to 67 on May 7, indicating increasing market optimism. This rise suggests that investors are becoming more risk-tolerant in their approaches.
State of the Crypto Market
Currently, Bitcoin is trading at $97,003.23, with a market cap nearing $1.93 trillion and a dominance of 64.20%. Bitcoin has seen a 3.03% increase over the past 24 hours and a 26.70% rise in the past 30 days.
Trump's criticism may significantly influence monetary policy perceptions, leading to increased interest in high-risk assets like cryptocurrencies.
