Crypto Compass by BitcoinWalletSG #124

Powell Resignation Rumors Could Boost Bitcoin 🪙? Read it in our weekly newsletter now!

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BitcoinWallet SG
June 03, 2025

Hello Fam,

Bitcoin is consolidating around $105K after hitting an all-time high of $111K in May, reflecting a pause amid mixed on-chain signals. While institutions take profit, retail accumulation continues. Altcoins remain weak, underperforming during Bitcoin’s sideways action. Meanwhile, macro risks are rising, Trump’s renewed tariff push against China and the EU adds global market uncertainty, while speculation over Fed Chair Powell’s future introduces further volatility.

🪙 Powell Resignation Rumors Could Boost Bitcoin

Speculation over Fed Chair Jerome Powell’s potential resignation amid pressure from President Trump to cut rates, has sparked debate on its impact. A dovish replacement could lead to lower interest rates and increased liquidity, conditions that historically benefit Bitcoin.

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📉 Bitcoin Dominance Tops Out? Altseason May Be Approaching

Bitcoin's dominance in the crypto market has recently peaked, suggesting a potential shift in investor focus toward altcoins. This transition could mark a significant change in the current crypto market dynamics.

🌐 Trump's Tariff Escalation Heightens Global Trade Tensions

President Trump’s move to double tariffs on steel and aluminum has reignited trade tensions with China and the EU. With a July 8 deadline looming, countries are under pressure to strike new deals, adding uncertainty to global markets.

⏸️ Bitcoin Takes a Breather at $106K Before Next Leg Up

Bitcoin is consolidating around $106,000 after its recent surge to a new all-time high of $111,970 on May 22. Analysts view this pause as a healthy consolidation phase, allowing the market to digest recent gains before potentially moving higher.

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