A recent piece of news has spread in the community - Fed Chairman Powell might resign?

Although it hasn't been officially announced yet, Trump has hinted that "the Fed chair candidate will be announced soon." Once this news broke, the entire market couldn't hold back. Isn't it coincidental? The timing is just right, and global risk assets are all experiencing a racing pulse.

To be honest, the change of personnel at the Fed is no laughing matter. Looking back at history, every time there is a change in the leadership of monetary policy, the US dollar index and US Treasury yields tend to fluctuate in the short term, and the cryptocurrency market is naturally not immune to this impact. What's worse is that everyone is currently focused on the interest rate cut expectations for 2024; with such a development at this critical juncture, can market volatility not spike?

Key highlights are here: Powell will speak on Tuesday. This speech, along with subsequent personnel arrangements from the White House, can basically indicate whether the policy will make a sharp turn.

So what should we do? Panicking is useless; staying calm and responding is the key.

**Don't act impulsively with your positions** — Uncertainty hasn't dissipated yet, so lower your leverage first and avoid going all in on one side. This is not the time to gamble with your life.

**Hold on to core assets** — Bitcoin and Ethereum, these highly liquid big brothers, tend to withstand turmoil better. Other altcoins? Be cautious.

**Opportunities for Dips**—If market sentiment is excessively fearful leading to irrational sell-offs, then it is the perfect time to dollar-cost average in. When others are fearful, I am greedy; this saying is not without reason.

Ultimately, the underlying logic of the crypto market has remained unchanged - it is a bet on the future financial system. Traditional finance is undergoing a paradigm shift, and during such times, keeping a clear mind and digging deep into understanding is essential to stand firm in the waves.