If Trump Fires Fed Chair Powell, It May Determine Whether Bitcoin Truly Decouples from Nasdaq

Recently, U.S. President Trump has repeatedly criticized Fed Chair Powell publicly and suggested he may be dismissed, drawing widespread attention in the markets. Analysts indicate that if Trump fires Powell, it could severely weaken the Fed's independence, leading to a loss of confidence in U.S. monetary policy and potentially triggering a recession. In this context, cryptocurrencies may garner more attention due to their decentralized nature, especially Bitcoin, which might be viewed as a tool to hedge against risks in the traditional financial system. Historically, Bitcoin's price has closely followed the Nasdaq index (despite multiplier effects). While the U.S. stock market has remained sluggish recently, Bitcoin has been on the rise, leading to speculation that Bitcoin is "decoupling" from the Nasdaq. Although it's uncertain if this will truly occur, if Trump indeed fires Powell, the market may finally determine the decoupling effect.