Bitcoin Slips $95K as Trump-Fed Tension Cools Rate Cut Bets

The Lead

Bitcoin failed to hold the $95,000 support level early Saturday, trading at $94,950 (-1.4%) as macro headwinds intensified. The catalyst? President Trump’s ambiguous remarks regarding Federal Reserve Chair Jerome Powell’s future, which sent bond yields climbing and forced crypto derivatives traders to re-price 2026 liquidity expectations.

Data from Binance Market Data shows the sell-off coincided with a sharp adjustment in CME FedWatch probabilities. Traders have slashed bets on two rate cuts this year, with the odds of zero cuts in 2026 rising to 11.8%.

The Institutional Context

The market hates uncertainty, and the White House just injected a dose of it directly into the monetary policy engine. When asked about renominating Powell, Trump stated:

“I want him to remain in his current position, and we will see.”

This non-committal stance suggests a potential leadership shakeup at the Fed, a scenario risk assets like Bitcoin are ill-equipped to handle while hovering near six-figure resistance.

Supply Side Pressure

Adding fuel to the bearish fire, miners are capitulating to fund expansion. Riot Platforms (NASDAQ: RIOT) confirmed the sale of 1,080 BTC ($96 million) to finance a new 25MW data center in Rockdale. This supply dump hits an order book already thinning from the macro anxiety.

Institutional flows remain tepid. While BlackRock’s Bitcoin ETF continues to see volume, the spot market lacks the aggressive bid required to absorb miner selling pressure combined with the risk-off pivot in traditional finance.

Market Outlook

Solana (SOL) mirrored the move, sliding to $143.23 (-1.3%), while BNB dipped below $930. The immediate key level for BTC is $94,200; a break below likely flushes leverage long positions built up since the New Year.