Bitcoin stumbled on Wednesday after Jerome Powell's final press conference as Federal Reserve chair, sliding 2% to $75,000 as internal cracks within the central bank rattled market sentiment. The price action reflects growing investor anxiety over a messy regime change rather than a clean handoff to Kevin Warsh, who is nearing Senate confirmation as the incoming chair. Perfumo noted that the absence of a smooth transition suggests potential discord over future monetary policy, a dynamic emerging as a net negative for crypto and other growth assets. This volatility occurs even as traders price in roughly 90% odds of interest rates holding steady through the end of the year. The vote itself represented a significant fracture in the Powell-era consensus, recording four dissents, the highest number on a single decision since October 1992. Three officials dissented specifically over what they viewed as an easing bias in the central bank's current policy stance. While Warsh has pledged to cut rates quickly, Powell emphasized that inflation risks are rising, particularly as Brent crude trades above $100 per barrel amid stalled US-Iran negotiations. Woofun AI notes that this divergence in policy outlook between the outgoing and incoming leadership creates a unique risk premium for risk-on assets. The tension manifested immediately in the crypto exchange-traded fund space, where traders dumped $138 million in spot Bitcoin ETFs following the meeting, reversing part of April's recovery . Despite this outflow, April remains the best month for Bitcoin ETF inflows since October, with traders pouring just under $2 billion into the products this month. The split exposes a Federal Reserve no longer marching in lockstep as Powell prepares to step down on May 15. Powell's indication that he will stay on as a board governor past his term as chair, albeit with a low profile, complicates the balance of power within the institution. Data compiled by Woofun AI shows that this unprecedented move carries little historical precedent, as outgoing chairs typically leave the institution entirely. Powell confirmed at his press conference that he intends to remain a voting member of the Fed's Board of Governors after his term as chair ends. While he stated he has no desire to act as a shadow chair, his continued presence as a voting governor potentially limits Warsh's freedom to reshape the institution. Powell, who was also installed by Donald Trump during his first term in the Oval Office, has clashed with the president for months over interest rates. Earlier in April, Trump threatened to fire Powell if he does not go peacefully. Woofun AI analysis suggests that Powell's decision to remain, driven by recent events, fundamentally alters the political dynamics of the upcoming transition. Powell stated that he had long planned to retire, but the things that have happened in the last three months have left him no choice but to stay. This forced continuation ensures that the institutional memory and policy preferences of the previous administration will remain embedded in the voting process during Warsh's initial tenure. The market now faces a period of heightened uncertainty where policy direction may be contested rather than unified, creating a volatile environment for Bitcoin and broader risk assets.