Key Takeaways:
- Bitcoin hovered near $108K as institutional buying and renewed ETF inflows lifted sentiment.
- The U.S. dollar fell to a three-year low after Trump said he’s considering replacing Fed Chair Jerome Powell.
- Traders now expect the Federal Reserve to cut interest rates sooner than previously thought.
- Gold inched up and oil held steady as markets weighed central bank risks and geopolitical uncertainty.
Global Shifts & Market Sentiment
The dollar fell to a three-year low on Thursday after President Donald Trump intensified criticism of Federal Reserve Chair Jerome Powell and revealed that he is actively considering three or four candidates to replace him.
According to Reuters, Trump labeled Powell “terrible” and signaled he would not renominate him, raising speculation that a new Fed chief could be named before Powell’s term ends in May 2026. The leading contenders reportedly include Kevin Warsh, Kevin Hassett, Christopher Waller, and Treasury Secretary Scott Bessent.
Markets interpreted the development as a push for earlier and deeper rate cuts, which weighed on the dollar and supported risk assets, such as tech stocks and cryptocurrencies.
Meanwhile, in the crypto market, Bitcoin was reclaiming its previous highs following the latest dip, fueled by large institutional purchases and renewed ETF inflows.
Price Movements
Global Indices
- S&P 500 (SPX): 6,092.15 (–0.04%)
- Dow Jones (DJI): 42,982.43 (–0.25%)
- Nasdaq Composite (IXIC): 19,973.55 (+0.31%)
- Nikkei 225: 39,550.0 (+1.34%)
- Euronext 100 (N100-D): 1,557.56 (–0.70%)
- FTSE 100 (FTSE): 8,705.0 (+0.02%)
Cryptocurrencies
- Bitcoin (BTCUSD): 107,908 (+0.46%)
- Ethereum (ETHUSDT): 2,479.71 (+2.53%)
- Solana (SLCK2025): 163.35 (–1.88%)
- Binance Coin (BNBUSDT): 647.51 (+0.22%)
Commodities
- Gold (GOLD): 3,334.49 (+0.03%)
- Silver (SILVER): 36.393 (+0.43%)
- WTI Crude Oil (USOIL): 65.18 (+0.46%)
- Brent Crude (BRENT): 65.76 (–0.74%)
- Gasoline Forward CFD Jul 2025 (GASN2025): 2.0899 (+0.39%)
Major Stocks
- NVIDIA Corporation (NVDA): 154.31 (+4.33%)
- Tesla Inc. (TSLA): 327.55 (–3.79%)
- Microsoft Corp. (MSFT): 492.27 (+0.44%)
- Meta Platforms Inc. (META): 708.68 (–0.49%)
- Apple Inc. (AAPL): 201.56 (+0.63%)
- Amazon.com Inc. (AMZN): 211.99 (–0.37%)
Forex
- U.S. Dollar Index (DXY): 97.50 (–0.21%)
- Euro / U.S. Dollar (EURUSD): 1.16796 (+0.18%)
- British Pound / U.S. Dollar (GBPUSD): 1.36992 (+0.28%)
- U.S. Dollar / Japanese Yen (USDJPY): 144.785 (–0.26%)
Market Wrap-up
Markets showed a mixed performance on Thursday as investors reacted to growing uncertainty surrounding the Federal Reserve’s leadership.
The dollar slumped after President Trump signaled plans to replace Chair Powell, amplifying expectations of earlier rate cuts.
Crypto markets rallied on the news, with Bitcoin drawing strength from institutional buying and fresh ETF inflows. Meanwhile, Gold ticked higher, while oil prices barely moved following the sharp dip.
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