US President Donald Trump states he has taken control of the Federal Reserve (Fed) and intends to steer it towards interest rate cuts. This raises questions about the impact of such decisions on the cryptocurrency market, particularly on altcoins and the ETHBTC pair.
Official Statement from the Fed
Trump has dismissed Fed member Lisa Cook, claiming she is involved in mortgage fraud. Although Cook was set to serve until 2038, her dismissal has sparked controversy. A Fed spokesperson emphasized that the institution must respect court decisions, and Cook plans to contest this approach. Legislation mandates that Fed governors serve fixed terms and can only be dismissed for 'just cause.'
ETHBTC Pair and Impact on Altcoins
After Trump’s claims of control over the Fed, Bitcoin surged past $111,000. However, reclaiming the $112,500 support is crucial for stability. The ETHBTC pair remains a key indicator for altcoin investors. Recent movements above 0.04 BTC were promising, as this level was regained. Strong ETH ETF data could stimulate higher investment interest in altcoins.
Conclusion
Analysts suggest that Trump has significantly strengthened his influence over the Fed, which could politically motivate future decisions. This raises concerns in global markets, particularly regarding the volatility of cryptocurrencies.
The concentration of presidential power over the Fed could have far-reaching implications for financial markets, including the cryptocurrency market. Investors should closely monitor the situation.
