EL7.AI
CryptoUpdated×8•Originally published 29 April 2026•Updated 1 May 2026•
1 min read

Crypto Markets Bullish as Kevin Warsh Moves Closer to Fed Chairmanship

Key Facts

1Coinbase's latest quarterly survey shows a general consensus that Bitcoin is underpriced despite trading below $80,000.
2The Senate Banking Committee approved Kevin Warsh's nomination for Fed Chair in a 13-11 vote.
3Jerome Powell stated he will remain a member of the Board of Governors after his chairmanship ends.

Optimism is surging in the crypto market as Kevin Warsh’s nomination for Fed Chair gains momentum, with Bitcoin currently testing a key institutional support zone above $75,000 after reaching levels near $79,000. This robust performance coincides with the S&P 500 reaching fresh all-time highs, signaling broad strength across risk assets despite CryptoQuant data showing short-term holder interest falling to 3.91%. While Warsh's potential leadership is welcomed, his hawkish leanings could curtail aggressive long-term price targets if the Fed pauses rate cuts. Analysts warn that such a pause remains a primary risk to Bitcoin reaching its $250,000 valuation target. Currently, the market is closely watching the $75,000 floor as a critical indicator of sustained institutional demand. The digital asset's evolution into a geopolitical tool continues to provide a fundamental backdrop for this price action.