Bitcoin traders eye $90,000 price after Kevin Warsh’s confirmation chances skyrocket. Here’s why

Bitcoin is lining up a push toward $90,000 as investors zero in on a changing of the guard at the US Federal Reserve, analysts say.

Iggy Ioppe, former Credit Suisse banker turned CIO at tokenisation platform Theo, told DL News that whether or not Kevin Warsh takes over the Fed smoothly is critical for crypto.

“Markets don't like uncertainty,” Ioppe said. “In the near term, it's a hawkish hold.”

Ioppe’s call comes as the US Department of Justice on Friday dropped its criminal investigation into Federal Reserve Chair Jerome Powell, removing a major obstacle to the US Senate confirming Warsh, President Donald Trump’s nominee, as the central bank’s next chief.

Polymarket bettors put his chances to be confirmed by May 15 at 97% — a sharp increase from the 28% assigned on Thursday.

Bitcoin investors have also been optimistic. The world’s largest cryptocurrency has climbed 18% over the past month, buoyed by renewed institutional demand and $2.5 billion in exchange-traded fund inflows in April, DefiLlama data shows. That’s a 90% jump from March.

Analysts told DL News last week that if Fed tailwinds align with the Clarity Act’s passage, Bitcoin could hit $100,000.

Fed drama unfolds

The Trump DOJ probe had cast a long shadow over Warsh's confirmation process.

Republican Senator Thom Tillis from North Carolina had placed an effective hold on the nomination until the probe ended. That roadblock is now gone.

Powell’s term as chair officially ends in mid-May. His tenure has…