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The market is applauding Warsh, who is about to take over the Fed—
He once said, "BTC is the new gold for those under 40," earning him the title of the Fed chair who knows the most about crypto in history. He officially took office on May 15.
But if you look back at how BTC performed after past chair changes: • Yellen took over → BTC -86%
• Powell’s first term → BTC -73.56% • Powell’s second term → BTC -60.72%
Each time the chair changes, the market sells amid cheers.
Warsh inherits a 3.5% interest rate + an expectation of only one rate cut in 2026.
The key is this: the chair’s personal attitude can’t change how loose or tight monetary policy is.
Being friendly won’t get you cheaper money. #Gate广场五月交易分享 $BTC