**Market Brief: Bitcoin Stabilises Amid Fed Chair Nomination** **Current Snapshot** Bitcoin is trading near **$84,000**, attempting to stabilise after dipping to a two-month low of **$81,000**. The sharp volatility follows President Donald Trump’s official nomination of **Kevin Warsh** as the next Federal Reserve Chair, replacing Jerome Powell when his term expires in May 2026. **Key Market Drivers** * **Fed Leadership Shift:** Markets are pricing in uncertainty regarding Warsh’s policy stance. While historically a "hawk" (favouring higher rates), his recent alignment with administration calls for lower rates has created a mixed outlook for risk assets. * **Institutional Outflows:** Spot Bitcoin ETFs have seen significant capitulation, recording nearly **$818 million** in daily outflows and pushing weekly outflows above **$1.5 billion**. * **Sentiment Plunge:** The Crypto Fear & Greed Index has dropped to **16–20 (Extreme Fear)**, signaling aggressive bearish sentiment not seen since late 2025. **Broader Crypto Performance** * **Ethereum (ETH):** Trading around **$2,680**, down alongside the broader altcoin market. * **Altcoins:** Major tokens including **Solana (SOL)** and **XRP** have faced 7–8% weekly declines, though some recovery is visible in intraday trading. * **Liquidations:** Over **$1.8 billion** in crypto positions were liquidated recently, flushing out excessive leverage. **Outlook** Despite the "sell-the-news" reaction to the Fed nomination and heavy ETF bleeding, technical indicators suggest the market is oversold. The flush of leverage and extreme bearish sentiment may set the stage for a near-term contrarian rebound if the **$84,000** support level holds firm.