Bitcoin slides toward $75,000 amid Warsh hearing, stalling U.S.-Iran talks
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- Bitcoin fell to $75,700, about 0.9% lower over 24 hours after briefly hitting $77,000.
- Kevin Warsh emphasized Fed independence at a Senate Banking Committee hearing, denying any pressure from President Trump on rate cuts.
- Trump publicly urged immediate rate cuts, fueling concerns about political interference in monetary policy.
- JD Vance’s planned Pakistan trip for Iran peace talks was halted, raising uncertainty ahead of the Wednesday ceasefire deadline.
- Iran faced new U.S. sanctions on 14 individuals, entities, and aircraft for weapons procurement for the regime.
- S&P 500 slipped 0.1%-0.2% after earlier gains as markets reacted to the hearing and geopolitical tension.
- Nasdaq also fell 0.1%-0.2% in the afternoon session.
- Coinbase stock dropped more than 6% amid the broader crypto sell‑off.
- Robinhood shares fell 4.5% as crypto exposure weighed on the broker.
Why it matters: Crypto investors and Coinbase shareholders lose as Bitcoin dips to $75.7k and Coinbase falls >6%, while Warsh's push for Fed independence keeps rate cuts off the table, dampening risk‑on sentiment.
