Bitcoin Slips to ₱4,603,813 ($75,000) as Fed Discord Hits Record High

Jerome Powell held his final presser as Federal Reserve Chair on Wednesday, and the result was a 2% slide in Bitcoin to $75,000.

Kraken Chief Economist Thomas Perfumo called the Fed vote a loud crack in the Powell-era consensus. Four members dissented on a single decision—the most since October 1992. Powell emphasized that inflation risks are rising and told markets the probability of rates holding steady through year-end sits at roughly 90%. Spot Bitcoin ETFs shed ₱8.47 billion ($138 million) in the aftermath, according to DefiLlama.

Powell announced he had long planned to retire but said the things that have happened in the last three months have left him no choice but to stay. His term as Chair ends May 15, but he confirmed his intention to remain a voting member of the Fed's Board of Governors. He insisted he has no desire to act as a shadow chair. Incoming Chair Kevin Warsh, who cleared the Senate Banking Committee on Wednesday, pledged to cut rates quickly once confirmed.

Perfumo said the absence of a clean handoff to Warsh suggests the potential for discord over policy at the Fed. Powell's indication that he'll stay on as a board governor past his term as chair, albeit with a low profile, complicates the balance of power. President Donald Trump nominated Warsh and previously threatened to fire Powell if he does not go peacefully—Trump installed Powell during his first term.

Ethereum fell 3.1% to $2,251 over the past few hours. Bitcoin ETFs pulled in just under ₱122.77 billion ($2 billion) in April, which had been the best month since October. Brent crude climbed above $100 per barrel. Warsh's final Senate confirmation vote is expected soon, with Powell's term ending May 15.