In recent developments, U.S. President Donald Trump has once again publicly urged Federal Reserve Chairman Jerome Powell to reduce interest rates. However, within the cryptocurrency community, this call does not appear to resonate as strongly as it once did. Despite persistent speculation about potential rate cuts, the likelihood remains low, while the broader crypto market has begun to focus on emerging positive narratives.

The cryptocurrency sector had initially pinned its hopes on a series of interest rate cuts as a bullish signal amidst the backdrop of ongoing U.S.-China trade negotiations, an influx of new investors, and technological innovations. These factors seemed to alleviate concerns about an impending economic downturn, which had previously dominated market sentiment.

Throughout this period, the crypto community frequently expressed support for rate cuts, arguing that such measures could help prevent economic collapse by stimulating liquidity. President Trump has consistently pressured Powell, even considering the possibility of dismissing him, though Powell has maintained his stance against lowering rates. This persistence from Trump has not wavered, and he renewed his appeal to Powell as recently as today.

During these discussions, crypto-related prediction platforms, such as Kalshi, showed a more optimistic outlook regarding the possibility of rate cuts compared to traditional financial institutions like the CME Group. For instance, when Trump last requested rate cuts, Kalshi anticipated three reductions occurring within the year. At that time, this implied a cut during half of the remaining Federal Open Market Committee (FOMC) meetings. By March, Kalshi even projected four cuts, whereas the CME assigned over 98% odds against any cuts taking place in May.

Ultimately, this expectation aligns with what occurred, as no rate cuts took place. Consequently, Kalshi has adjusted its forecasts, now predicting only two additional cuts for the remainder of the year, which aligns more closely with other financial analysts' projections.

From this situation, the cryptocurrency community appears to have recognized that Trump's influence cannot compel Powell to implement rate cuts. Nevertheless, the market continues to thrive despite this. The progress in U.S.-China trade relations has driven Bitcoin prices above $105,000, leading to a resurgence in investor participation, and technological advancements are accelerating. As a result, fear of a recession has diminished significantly among investors. With these developments, the need for rate cuts may no longer be as pressing.

In summary, Trump's proposal for interest rate cuts was merely one potential catalyst for boosting crypto investment. While a sudden policy shift by Powell would certainly be seen as a positive development, the crypto market is gradually shifting its focus away from macroeconomic indicators toward intrinsic value propositions and technological growth.

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