#数字货币市场回升 Fed换帅：哈赛特接棒会给 crypto market带来什么？

The market is focused on one thing - if Hasset really takes over as the chair of the Fed, how will crypto assets perform? Many people's first reaction is negative, but a closer analysis reveals that it may not be that simple.

Let's first talk about liquidity. In recent years, cryptocurrencies have become typical risk assets, with price movements being extremely sensitive to the liquidity of funds. If the Fed continues its accommodative stance, lowering interest rates or restarting asset purchases, cheap funds in the market will quickly flow into various high-return sectors. During such times, assets like Bitcoin are often one of the preferred targets for hot money. At the same time, in a low-interest-rate environment, the appeal of traditional safe-haven assets diminishes, and investors naturally turn their attention to alternative options with potentially higher returns.

But another path also exists. If inflation comes back or does not fall into place, as the central bank's leader, Hassert cannot ignore institutional credibility. In this case, he may be forced to maintain a tight stance for a longer time, with high interest rates continuing to drain market liquidity, venture capital activities suppressed, and the crypto market will have to continue to struggle at the bottom. A new bull market? That will have to be pushed back.

The key point is that monetary policy is the hardest variable. Regardless of the personal preferences of the incoming chair, the final interest rate decision will determine the flow of funds. If he truly adopts a dovish stance, the crypto market is likely to welcome a new wave of upward cycles; conversely, continuing a hawkish approach would mean prolonging the current turbulent ordeal.

There is one more point that cannot be ignored - although the Fed does not directly manage encryption regulation, the chairman's attitude is often a barometer. His public statements will directly affect market sentiment and capital confidence. More importantly, if he can stabilize inflation expectations and achieve a soft landing for the economy, the improvement of the overall macro environment will be a long-term benefit for all risk assets, including crypto assets.

Ultimately, whether this personnel change is a blessing or a curse for the crypto market depends on the policy trends in the coming months. The trend of $BTC will likely be more honest than any analysis report.