Fed Holds Rates Steady: BTC 78K, Warsh Candidate

Fed Holds Interest Rates Steady for the Third Time

The Federal Reserve held its benchmark interest rate steady for the third time this year as Middle East conflicts pushed up energy costs. In Wednesday's Federal Open Market Committee (FOMC) meeting, it maintained its policy target in the %3,5-3,75 band; this was a session signaling the end of Jerome Powell's chairmanship. The anticipated pre-decision move kept Bitcoin near 75.100 dollars and Ethereum near 2.240 dollars; however, following the announcement, Bitcoin lost %1,4 and Ethereum %2,3 in the last 24 hours. The Fed emphasized that Middle East developments are creating uncertainty in the economic outlook and maintained its cautious stance. Current BTC price is at 78.460,26 dollars, with a 24-hour change of +%0,62 signaling recovery (RSI: 61.69, sideways trend).

Kevin Warsh Nominated for Fed Chairmanship

The Senate Banking Committee advanced Kevin Warsh's nomination to the full Senate for appointment as Fed Chair in place of Powell; with Republicans holding the majority, a final vote is on the horizon. Although Powell's eight-year term ends next month, it was noted that Warsh would serve as interim chair if not confirmed by May 15 and could even remain as a governor. The Justice Department's closure of its criminal investigation into Powell lifted Senator Thom Tillis's veto on Warsh. With a net worth of 100 million dollars, Warsh holds crypto-linked investments like Solana and Polymarket; although he considers many projects fake, he has a positive view of Bitcoin. During the committee meeting, Fed Governor Stephen Miran called for a 25 basis point cut, while three governors supported the current policy but did not approve language signaling easing.

Bitcoin Technical Analysis: Strong Supports and Resistances

Bitcoin is in a sideways trend (Supertrend: Bearish, EMA 20: 76.049 dollars). Main supports: S1 71.926 dollars (strong, %69 score, -%8,34 distance), S2 75.679 dollars (%62 score). Resistances: R1 79.399 dollars (%97 score, +%1,18), R2 80.636 dollars (%78 score). Traders should monitor these levels for BTC detailed analysis. Ethereum is also under similar pressure, with ETH futures increasing volatility.

Coinbase MegaETH Futures Listing Breathes Life into the Market

Meanwhile, Coinbase International listed MegaETH (MEGA) futures, injecting momentum into the crypto ecosystem. Despite Fed uncertainty, platforms are growing with new assets; this indicates continued risk appetite. Ship traffic issues in the Strait of Hormuz are disrupting oil flows; US gasoline prices rose %6,2 in the last month to 4,22 dollars per gallon – they were 2,99 dollars at the start of the conflicts. With interest rate cuts delayed, rising energy costs are complicating efforts to bring inflation down to the %2 target. The sector is revising strategies in anticipation of deepening uncertainties.