🗞 It’s Wednesday. This Is the Backdrop $BTC Is Trading Into
Before the new week kicks off for Bitcoin and crypto, it’s worth recalling how last week closed:
🔸 Trump signaled plans to nominate Kevin Warsh as Fed Chair after Powell’s term 🔸 The Chinese yuan logged its 10th straight week of gains - strongest run since 2013 🔸 Trump declared a state of emergency over Cuba, hinting at new tariffs 🔸 U.S. lawmakers reached a deal to avoid a government shutdown 🔸 The $ETH Foundation shifted to moderate cost-cutting to fund scaling 🔸 U.S. authorities completed the seizure of $400M linked to the Helix crypto mixer
This is the macro and regulatory context BTC is starting the week with. Let’s see which narrative the market decides to price in.