President Trump's persistent criticism of the Federal Reserve is raising concerns about the stability of US monetary policy, according to ECB's Joachim Nagel. The potential for the federal funds rate to reach 4.25% by the end of 2026 is increasing, as Trump's pressure on the Fed, including threats of dismissals and controversial nominations, threatens its independence. This political interference is unsettling markets, potentially necessitating higher rates to maintain credibility. In the Bitcoin market, distrust in US institutions is evident, with the probability of Bitcoin dropping to $60,000 in April remaining low at 1.1%, down from 2% a day earlier. Despite this, the market has not yet priced in a significant shift to alternative assets. The federal funds rate market has seen no trading in the last 24 hours, indicating traders are awaiting clearer signals. Meanwhile, the Bitcoin market remains stable with $5,014 in USDC traded daily, despite potential institutional flight from the dollar.