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Key Takeaways
- Janet Yellen Fed transition (Nov 2013): Bitcoin fell 85.40%.
- Jerome Powell first term (Dec 2017): Bitcoin fell 84.13%.
- Jerome Powell second term (Nov 2021): Bitcoin fell 77.58%.
- Average drawdown across three transitions: 82.37%.
- Kevin Warsh confirmation expected May 15, 2026.
Three Fed chair transitions. Three Bitcoin crashes averaging 82%. Kevin Warsh is confirmed for May 15, and for the first time, the incoming chair has personal investments in crypto, including an Ethereum layer two platform, before taking the role.
“Historically, this is exactly when the $BTC next leg down starts.” Carl Moon posted that observation alongside a monthly Bitcoin chart mapping three Fed chair transitions against three major drawdowns.
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