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Warsh officially takes over Powell today, becoming the 17th Fed Chair.
Senate confirmation with a 54-45 vote, the most controversial in history.
Warsh holds shares in 12 crypto companies including Flashnet, Bitwise, Basis, dYdX, and others, earning him the nickname "The most crypto-savvy Fed Chair in history."
The real variable isn't his holdings list, but QT-for-Cuts: lowering interest rates to 3%-3.25%, while selling MBS to shrink the balance sheet from $6.5T to $4T, a net reduction of $2.5T.
For the first time in history, "rate cuts + balance sheet reduction" are executed simultaneously.
Historical pattern: In 2022, QT started, and BTC dropped from $29,000 to $16,000 (-45%).
BTC's lifeline is liquidity, not interest rate figures.
Polymarket data: The odds of zero rate hikes in 2026 are 62%—even the market doesn't believe the "cut" will happen.
BTC today is $79,500, with no reaction to the inauguration.
The first FOMC meeting: June 16-17, that’s the real starting gun.
Contrary to consensus: the Fed Chair most friendly to crypto brings a $2.5T balance sheet reduction bill— a friendly badge, but it doesn't buy loose liquidity. #Gate广场五月交易分享 $BTC