Historical pattern alert: Bitcoin has consistently crashed during Fed Chair transitions.

📉 The data:

• 2014 transition → -27% in 14 days

• 2018 transition → -47% in 30 days

• 2022 transition → -50% drawdown

⚠️ Next potential catalyst: May 15

This isn't about fundamentals or tech—it's pure macro risk correlation. Fed leadership changes create uncertainty in monetary policy direction, and Bitcoin (despite the "digital gold" narrative) still trades like a high-beta risk asset.

The mechanism: New Fed Chairs typically signal policy shifts → institutional algos reprice risk → leveraged positions get liquidated → cascading selloff.

Whether this pattern holds depends on:

1. Current leverage ratios in crypto markets

2. Institutional positioning vs retail

3. Macro backdrop (are we already in risk-off mode?)

Not financial advice, but if you're holding spot, understand your risk window. If you're leveraged, this is your warning shot.