U.S. Bitcoin ETFs Recorded an Outflow of $5.5 Billion For The 5th Straight Week

Cryptocurrency exchange Coinbase has announced it will add support for Reserve Rights (RSR) on the Base network. The exchange also mentioned that the transfers are already available on both Coinbase and Coinbase Exchange in regions where trading is supported.

Coinbase Listing Coincides With Paul Atkin’s Development

According to the announcement, trading for RSR will begin on or after 9AM PT on April 22, 2025. The news comes as the RSR token shows strong price performance across multiple timeframes. The token has jumped 7.7% in the past 24 hours, 7.2% over seven days, and also 24.3% over the past month.

Coinbase will add support for Reserve Rights (RSR) on the Base network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.

— Coinbase Assets (@CoinbaseAssets) April 21, 2025

This upward momentum coincides with recent developments related to Paul Atkins, who has connections to the Reserve Rights project and was recently confirmed as President Trump’s next Chairman of the Securities and Exchange Commission.

The timing of Coinbase’s announcement has drawn attention given the token’s connection to Atkins. He previously served as an advisor to the Reserve Rights Foundation during the project’s early development phase.

The top crypto exchange has provided specific details about how the RSR token will be integrated into its platform. The exchange will support Reserve Rights exclusively on the Base network.

The roll-out will be phased and trading will commence on or after 9 AM PT on April 22, 2025. With that noted, the timeline is subject to liquidity levels being met. When sufficient supply of RSR is accumulated on the exchange, trading will start on the RSR-USD trading pair first.

Atkins Connection And RSR Listing

Coinbase’s timing of listing RSR has been questioned due to the token’s connection to Paul Atkins. Atkins served as an advisor to the Reserve Rights Foundation. This was when the project was still in its early phase of development.

As a former SEC Commissioner before accepting his advisory role with Reserve Rights, Atkins advised the project when it was beginning. Reserve’s co-founder and CEO Nevin Freeman publicly praised Atkins’ contribution to the project. He also complimented his balanced way of regulating cryptocurrencies.

I’m pleased to hear that Paul Atkins is in the running for SEC chair!

Paul has been open to working with crypto clients in his consultancy since 2017. I believe he would take a principled approach and I’d be very excited to work with him and his team on productive rule makings… https://t.co/Xp88ha0H8z

— Nevin Freeman (@nnevvinn) November 28, 2024

Market experts have credited RSR’s recent price appreciation partially to hopes that Atkins’ SEC Chair nomination could bring a crypto-friendly regulatory period for cryptocurrency projects. This can be seen from the token’s robust performance.

The recent announcement comes amidst Coinbase’s renewed legal battle as Oregon’s Attorney General prepares to file a securities enforcement action against the cryptocurrency exchange.

The post Coinbase Announces Support For Paul Atkins-Linked Reserve Rights (RSR) appeared first on CoinGape.

Bitcoin price forecast remains clouded by political tension, with BTC holding above $85,000 as traders weigh Fed independence and rate direction

Bitcoin price hovers above $85K as Trump escalates pressure on Fed Chief Powell

Bitcoin price tethered near the $85,000 zone on Thursday despite bearish sentiment across global financial markets linked to the US-China trade war. While equity markets faced sharp drawdowns, the flagship cryptocurrency remained resilient following heightened political friction between the White House and the Federal Reserve.

President Donald Trump amplified criticism of Federal Reserve Chair Jerome Powell, suggesting potential removal after Powell reaffirmed the Fed’s legal independence during a speech at the Economic Club of Chicago. Powell emphasized that the central bank’s autonomy is protected by statute, stating, “We’re not removable except for cause.”

The remarks followed a series of posts on Trump’s Truth Social account, where he labeled Powell’s policy direction “a complete mess,” accusing the Fed of missing timely opportunities to reduce interest rates despite falling inflation and commodity prices.

Trump pointed to the European Central Bank’s expected seventh rate cut as justification for immediate Fed action.

He claimed inflation was under control and called for lower rates to support economic growth.

Treasury Secretary Scott Bessent is reportedly preparing to begin interviewing candidates to potentially replace Powell later this year, adding further uncertainty to the Fed’s policy outlook.

How could Bitcoin price react to Trump’s criticism of Powell

Interest rates play a pivotal role in shaping capital flows toward risk assets like Bitcoin. Lower interest rates typically drive investors to seek higher returns in alternative markets, including crypto, making any shift in Fed policy direction a crucial signal for Bitcoin’s trajectory.

If Trump successfully pressures the Fed into cutting rates sooner than anticipated, it could reinvigorate bullish momentum in Bitcoin and the broader crypto market.

Lower borrowing costs and increased liquidity may encourage institutional and retail investors to allocate more capital into digital assets, potentially driving Bitcoin toward fresh highs above the $90,000 level.

Such a move would also align with broader global easing trends, particularly if the ECB proceeds with further cuts.

On the other hand, if the ECB slashes rates while Powell opts for another pause, the divergence could create a temporary imbalance in capital flows.

This might strengthen the US dollar in the short term, applying downward pressure on Bitcoin and other dollar-denominated assets.

In this scenario, Bitcoin could face renewed volatility and range-bound trading, particularly if macroeconomic uncertainty persists around interest rates and inflation targets.

Bitcoin Price Forecast: BTC Faces Rejection Risks at $88,500 Resistance

Bitcoin price forecast shows a tentative bullish stance losing momentum as BTC consolidates below the $88,454 resistance, a level defined by the upper Donchian Channel band.

While BTC price remains above the midline near $81,456, this recent rejection signals waning bullish strength. The narrowing channel range between $88,454 and $74,458 highlights tightening market conditions, a precursor often to breakout or breakdown moves.

The MACD histogram also shows fading bullish bars, while the MACD line, although above the signal line, flattens around 551—indicating momentum is stalling rather than strengthening. Should BTC lose $81,456, a move to test the lower channel support at $74,458 is likely, with further downside to $71,000 possible if selling intensifies.

However, a decisive daily close above $88,454 with strong MACD expansion could revive the bullish trend, targeting $92,000 short term. Until then, the bias leans bearish as momentum stalls and resistance caps further gains.

The post Bitcoin Price Moves Above $85K as Donald Trump Fires at Fed Chief Jerome Powell, What’s happening ? appeared first on CoinGape.