Bitcoin signage in Times Square in New York, Dec. 9, 2025.<\/p>\n
Michael Nagle | Bloomberg | Getty Images<\/p>\n
Bitcoin, Ethereum, and Solana slumped on Saturday as retail traders digested a busy market week that saw wild swings in commodities and a long-awaited announcement by President Donald Trump<\/a> on his choice for the next Federal Reserve<\/a> chairman.<\/p>\n In afternoon trading, Bitcoin<\/a>, the \u2060world’s largest cryptocurrency \u200dby \u200dmarket \u200dvalue, sank below $78,000, down 7.6%. Ethereum<\/a> slid about 11% to $2,382.57,\u00a0while Solana<\/a> lost 13% at $101.91.<\/p>\n The slide in crypto comes in the wake of Trump’s selection<\/a> of\u00a0Kevin Warsh<\/a>\u00a0to lead the Fed, which bolstered the U.S. dollar<\/a> as it eased concerns about the central bank’s independence. Dollar strength may reduce bitcoin’s appeal among investors as an alternative currency.<\/p>\n If confirmed by the U.S. Senate, Warsh would replace sitting Chairman Jerome Powell<\/a>. Powell’s current term as chair ends in May. Trump has criticized Powell<\/a> \u2014 particularly about his unwillingness to reduce interest rates \u2014 almost since the Fed chair took the job in 2018.<\/p>\n The slide in crypto is the latest blow to retail investors, who were buffeted by a sharp selloff in spot silver<\/a> on Friday, the worst day for the market since March 1980. <\/p>\n Spot silver<\/a>\u00a0was down 28% at $83.45 an ounce, trading near its lows of the day. Silver futures plummeted<\/a> 31.4% to settle at $78.53.<\/p>\n","protected":false},"excerpt":{"rendered":"Bitcoin signage in Times Square in New York, Dec. 9, 2025. Michael Nagle | Bloomberg | Getty Images…\n","protected":false},"author":2,"featured_media":267685,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[6461,9184,941,114,357,4631,7255,6420,54,9506,85,942,46,4487,118946,190,6462,88649],"class_list":["post-267684","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-breaking-news-business","tag-breaking-news-investing","tag-breaking-news-markets","tag-business","tag-business-news","tag-cryptocurrency","tag-currency-markets","tag-donald-j-trump","tag-donald-trump","tag-ethereum-usd-coin-metrics","tag-il","tag-investment-strategy","tag-israel","tag-jerome-powell","tag-kevin-warsh","tag-markets","tag-retail-industry","tag-solana-usd-coin-metrics"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/267684","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=267684"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/267684\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/267685"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=267684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=267684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=267684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}