Bessent suggests Warsh nomination hearings alongside Powell probe

💡 DMK Insight

The Fed chair confirmation drama is more than just political theater—it’s a potential market mover. With SOL currently at $83.32, uncertainty around Jerome Powell’s position could shake investor confidence, particularly in riskier assets like cryptocurrencies. If the confirmation process stalls, expect volatility in the crypto markets as traders react to the implications for monetary policy. A prolonged investigation could signal a shift in the Fed’s approach to interest rates, impacting liquidity and risk appetite across the board. Keep an eye on SOL’s support levels; a drop below $80 could trigger further selling pressure, while a bounce back above $85 might indicate renewed bullish sentiment. On the flip side, if Powell’s confirmation is expedited, it could stabilize markets and lead to a short-term rally in crypto assets. Traders should monitor the political landscape closely, as any developments could lead to rapid shifts in sentiment. Watch for key announcements or statements from the Fed that could provide clarity on future monetary policy, especially in the coming weeks.