What does the new Fed Chair mean for Crypto?

In this episode of The DeFi Report, Mike and Ryan break down what Trump’s pick for Fed Chair, Kevin Warsh, could mean for crypto, and why a real regime shift might be back on the table. They unpack Warsh’s record as a Fed governor, his critique of QE and the swollen balance sheet, and the big question markets are not pricing: is the Fed Put still alive? Mike explains why he still views crypto as in a bear market, the onchain and cycle metrics he needs to see before going risk-on, and how a Nasdaq rollover tied to an AI unwind could drive the next leg lower. They close with fair value targets, downside scenarios, and what would finally flip Mike into buy mode.----📣THE DEFI REPORT | FOLLOW & SUBSCRIBEhttps://thedefireport.transistor.fm/https://thedefireport.io/https://x.com/the_defi_reporthttps://x.com/JustDeauIt----TIMESTAMPS0:00 Intro2:15 The Bloodbath in Crypto Prices2:52 Analyzing the New Fed Chair7:21 Warsh's Views on Inflation10:19 Trump & Warsh's Alignment12:55 The Fed Put: A New Perspective18:05 Constraints on Warsh's Policies20:59 The Uncertainty of the Fed's Influence21:50 Crypto's Bear Market Outlook23:32 Metrics for Bitcoin's Recovery25:27 Long-Term Holders' Market Behavior27:13 The State of Bitcoin Miners29:35 NASDAQ & Tech Sector Trends32:54 The AI Bubble and Its Implications35:35 The Potential for Market Unwind39:39 ISM Data and Economic Signals40:45 Mike's Risk-On Strategy Insights42:41 Closing & Disclaimers----Not financial or tax advice. For educational purposes only.