Trump-backed WLFI ramps up buybacks as token lingers 50% below launch price

Kevin Hassett, a prominent economic adviser to former President Trump, is reportedly a leading candidate to succeed Jerome Powell as chair of the Federal Reserve, according to recent reports. This potential appointment underscores Hassett's influence within the Trump administration and his alignment with pro-cryptocurrency policies.

Bitcoin is experiencing a surge in price, approaching key resistance levels around $88,000, with predictions of a potential short squeeze that could push the cryptocurrency to $89,000 or higher. This movement coincides with a rise in U.S. stock markets, particularly the S&P 500, which is just 2% shy of its all-time high.

Recent trends indicate that cooling inflation is influencing Bitcoin's identity and price behavior, as historical patterns show a correlation between inflation rates and investor sentiment towards the cryptocurrency. Analysts are observing how these macroeconomic factors shape Bitcoin's market dynamics.

Bitcoin's price has experienced a significant decline of nearly 20% in November, raising concerns about the potential for its worst performance in this month since the 2018 bear market. Analysts suggest that artificial intelligence models indicate a possible market bottom could be reached this week, as Bitcoin's value hovers around $81,000.

World Liberty Financial's token price surged by 8% to $0.171 after breaking out of a bullish triangle pattern, coinciding with a significant buyback of nearly $10 million in WLFI tokens. This buyback activity is part of an effort to stabilize the token's market value following previous declines.

Robinhood has experienced significant growth in its prediction markets since their launch in March, with over nine billion contracts traded by more than one million users, marking it as the company's fastest-growing revenue source.

Kevin Hassett, a key advisor to former President Trump and a member of the president's crypto working group, has emerged as a leading candidate to chair the Federal Reserve, according to a Bloomberg report. This potential appointment highlights the intersection of cryptocurrency advocacy and traditional financial governance.

Bitcoin has experienced a downturn for the second consecutive month, prompting analysts to consider two potential scenarios: a resurgence in demand or a prolonged accumulation phase. This situation reflects ongoing volatility in the cryptocurrency market.