Bitcoin Price Drops Amid Rise in US Treasury Notes Yield Despite Kevin Warsh's Appointment

The recent appointment of Kevin Warsh as Federal Reserve Chair has been met with a mixed reaction from the cryptocurrency community. On one hand, Warsh has expressed positive views on Bitcoin and criticized central bank digital currencies. However, this does not seem to have had an immediate impact on the price of BTC.

On Saturday, the price of Bitcoin dropped to its lowest level in over a month, reaching $74,190. This decline occurred despite the appointment of Warsh as Fed Chair a day earlier. The main reason for the decline was the rise in the yield of US 2-year Treasury notes to 4.14%. This is the highest level since February 2025.

The increase in the 2-year yield reflects traders' expectations regarding interest rates in the near future. Currently, markets do not believe in a rapid easing of monetary policy under Warsh. According to CME data, traders expect the Fed to keep rates unchanged for most of 2026.