Why is Bitcoin falling despite pro-crypto Kevin Warsh becoming Fed chair?

Blockchain

Rising short-term bond yields and Warsh’s hawkish comments in the past are reviving fears of a December rate hike, which could slam the brakes on Bitcoin’s recovery.

Bitcoin (BTC) fell to $74,190 on Saturday, its lowest level in more than a month, despite pro-crypto Kevin Warsh being sworn in as Federal Reserve chairman a day earlier.

BTC/USD daily chart. Source: TradingView

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