Bitcoin (BTC) slipped to around $74,190 on Saturday, marking its lowest level in more than a month even as Kevin Warsh assumed the role of Federal Reserve chair a day earlier. The move comes as traders push probability of higher-for-longer monetary policy into 2026, with the 2-year U.S. Treasury yield climbing to 4.14% — its highest since February 2025 — and market pricing shifting away from imminent easing.
The price action and rate outlook underscore a nuanced dynamic for crypto markets: a more restrictive macro backdrop can weigh on BTC even when its governance aligns with a pro-crypto leadership on the policy side.
BTC/USD daily chart. Source: TradingView
Key takeaways:
- Rising 2-year yields reinforce expectations for a…
