The global crypto market is reacting violently to the nomination of Kevin Warsh as the next Chair of the US Federal Reserve. Warsh, known for his historical preference for a smaller Fed balance sheet, has investors worried about a potential tightening of the US financial system. As liquidity dries up in traditional markets, speculative assets like cryptocurrencies are the first to feel the pain. The market's "easy money" era appears to be ending, as traders pivot toward cash and traditional safe havens. This macro-economic shift has created a headwind that even the most bullish crypto news cannot overcome, leading to the longest monthly losing streak for Bitcoin since 2019.

$BTC $BNB $XRP

#MarketUpdate #US