- 10x Market Update
- Posts
- What a Kevin Warsh Fed Means for Bitcoin
Why this report matters
President Trump is expected to announce his nomination for Federal Reserve Chair within the next few hours, with the probability of Kevin Warsh being named now approaching 95%. In our December 13 report, “Early, Hawkish, and Often Wrong: Why Kevin Warsh’s Economic Worldview Matters for Markets and Bitcoin,” we outlined what a Warsh nomination would mean for Bitcoin.
Below, we walk through how long-term Bitcoin holder behavior has shifted, why stablecoins have seen a pronounced off-ramp since December, and how these developments tie not only to the December Fed meeting but also to the likely nomination of Kevin Warsh, an outcome that may have been an open secret within the White House inner circle for the past six to seven weeks.
Importantly, while many have pointed to Binance as the driver of Bitcoin’s sell-off over the past three months, the data suggest a more credible explanation, one with far more significant implications for Bitcoin and the broader crypto market going forward.
Bitcoin (LHS) vs. Long-Term BTC holder - change after a new Fed Chair?
Market Updates
Become a paying subscriber of Market Updates to get access to this post and other subscriber-only content.
Already a paying subscriber? Sign In.
Important Trading alerts and risk factor analysis.:
- • Actionable market analysis that saves you hours.
- • Covers on-chain data, macro trends, market structure, flows, catalysts, and more.
- • Focused on Bitcoin and top crypto assets.
- • Get 2–5 Reports per Week. Know More. Doubt Less.
- • Turning market insights into confident action.