Saturday, May 23, 2026 · Covering Friday May 22 session
Summary
Bitcoin price today fell to $75,174 (−2.95%) on Bybit perps and $75,379 on Bitstamp as Kevin Warsh was sworn in as Fed chair and traders began pricing 2026 rate hikes. The leverage-flush thesis broke: BTC lost the $76,556 cloud bottom, ETH dropped 3.52% to $2,055, and HYPE gave back 4.17% from Thursday’s record. ETF outflows reached $1.26B over five sessions.
The Big Three
Kevin Warsh was sworn in as Fed chair Friday at a White House ceremony beside Trump, the first such ceremony at 1600 Pennsylvania since the late 1980s. Despite Trump’s demands for cuts, markets are now pricing the Fed to hold through 2026 and potentially hike in early 2027. The June FOMC is the first test of central-bank independence in the new era.
