US President Kevin Warsh has nominated the new Federal Reserve Chairman. Kraken Global Economist Thomas Perfumo commented that this nomination implies overall market liquidity is expected to stabilize rather than expand significantly, maintaining a complex macroeconomic backdrop for Bitcoin and cryptocurrencies. Coin Bureau co-founder Nic Puckrin believes that concerns about a future low-liquidity environment, stemming from Warsh's advocacy for reducing the Fed's balance sheet, have led to declines in the cryptocurrency, stock, and precious metals markets. Currently, CME Group data shows that 85% of market participants expect interest rates to remain unchanged at the March 18th meeting.