Bitcoin Falls to $74K as Hawkish Signals Rise Under New Fed Chair Warsh

Bitcoin has dropped to $74,190 as of May 24 despite Kevin Warsh's May 22 swearing-in as Fed Chair. Warsh, confirmed 54-45 by the Senate on May 13 and viewed as crypto-friendly, took over after Powell's term ended May 15. However, the Fed's May 20 minutes revealed four dissents and lifted December rate-hike odds to 54.1%, driving $980 million in ETF outflows and pushing the 10-year yield to 4.67%. The combination of higher-for-longer policy expectations and $485 million in liquidations has erased recent gains from the $82,000 high, leaving BTC roughly 6% lower.