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Bitcoin has sold off during every Fed chair transition since 2014, as Kevin Warsh takes over May 15 inheriting 3.50% rates with just one cut projected for 2026. The Historical Pattern Is Consistent When Janet Yellen became Fed Chair, Bitcoin dropped 86%. When Powell was first appointed, the crypto shed 73.56%. At Jerome Powell’s second term confirmation in 2022, Bitcoin fell 60.72%. Powell held his final FOMC meeting as Fed Chairman Thursday. Warsh inherits 3.50% rates and just one rate cut projected for the rest of 2026, setting up a potentially challenging environment for risk assets. With Bitcoin currently trading around $77,367, analysts are watching whether the pattern repeats or breaks. History suggests another major selloff could be on the horizon during leadership transitions. ETF Flows Show Institutional Profit Taking U.S. spot Bitcoin ETFs recorded $14.76 million net inflow on April 30, but the week ending April 30 saw a sharp $475.87 million outflow. This marks a significant reversal after three consecutive strong inflow weeks totaling nearly $2.6 billion from April 10 to 24. Bitcoin Reclaims $78,000 With Institutional Money Rotating Out Bitcoin reclaimed the critical $78,000 horizontal resistance with a 3% surge. Price is compressing within an ascending wedge structure on the daily, with the upper trendline acting as immediate resistance near $80,000 to $82,000. EMAs remain bearishly stacked with the 200 EMA at $82,196 acting as overhead supply. However, the Parabolic SAR at $74,702 flipped beneath price, signaling short-term bullish momentum. The Technical Setup Support sits at $75,600 to $76,000, then $74,702 (Parabolic SAR). Resistance clusters at $80,000 to $82,000, then $82,196 (200 EMA). Price needs to hold $76,000 and reclaim $80,000 convincingly before institutional money rotates back aggressively. A confirmed break above $82,000 would signal trend reversal and break the Fed chair transition selloff pattern. Image: Shutterstock Market News and Data brought to you by Benzinga APIs © 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. To add Benzinga News as your preferred source on Google, click here. Posted In: Cryptocurrency News Markets by Parshwa Turakhiya, Benzinga Staff Writer
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