Bitcoin slips late Friday as Warsh takes over at the Fed

Bitcoin traded lower late Friday as Kevin Warsh was sworn in as Federal Reserve chair, with crypto markets still digesting the implications of a more hawkish policy backdrop.

The move came after bitcoin had been holding near the $77,000 area earlier in the day, according to live market coverage. By late Friday, the cryptocurrency had softened as traders reassessed the path for rates and inflation into the holiday weekend.

Fed transition

The Federal Reserve had already set up the handoff last week, saying Jerome Powell would serve as chair pro tempore until Warsh was sworn in.

AP reported that Warsh was sworn in during a White House ceremony on Friday, with President Donald Trump overseeing the event.

Reuters reported earlier in the day that Warsh was taking over the Fed with bond yields, inflation worries and expectations for higher rates already in view.

Why crypto is reacting

For bitcoin, the immediate question is whether the Fed transition changes the market's assumptions about how long rates may stay elevated. Crypto assets often trade as part of the broader risk-asset and liquidity picture, so even a symbolic policy shift can affect sentiment.

The latest move does not by itself establish a new trend, but it shows that bitcoin remains sensitive to macro signals as the market heads into the weekend.