Bitcoin Falls to $74K as Rising Yields Override Warsh Crypto Optimism

Bitcoin has dropped to roughly $74,000 by May 24, extending losses after Kevin Warsh’s May 22 swearing-in as Fed Chair. Initial optimism around Warsh’s disclosed crypto holdings and perceived friendliness lifted prices near $77,000 and prompted $90,000 upside targets, yet rising two-year Treasury yields to 4.14% and CME signals of higher-for-longer rates quickly reversed sentiment. The move echoes historical post-transition weakness, underscoring that regulatory support does not offset tighter monetary conditions.