Recently, there has been increasing chatter from the White House regarding the next Fed chair, with Kevin Hassett's name being frequently mentioned. The market has always been sensitive to such cues—his views on interest rate cuts align well with Trump, which has led many to start betting that there may be a shift in policy direction.

To be honest, the significance of the Fed chair position goes without saying; it directly determines how interest rates are adjusted. If a more dovish figure were to take over, this tightening pace would likely be loosened. You can see that U.S. Treasury yields have already begun to decline; the market has actually been pricing this in ahead of time.

What does this mean for digital assets? It mainly depends on how policy expectations are transmitted: on one hand, if the policy shifts towards easing, the overall liquidity environment will improve, which is beneficial for risk assets; on the other hand, during the transition period, various messages are flying around, market sentiment can easily become tense, and volatility may increase; but ultimately, what really matters is the subsequent economic data and the actual implementation of policies.

My personal suggestion is to stay attentive but not too aggressive. Personnel appointments are quite variable and the process is lengthy, so going all in on a particular direction right now is a bit risky. It would be better to focus on hard indicators like inflation and employment data, manage your positions well, and not make significant adjustments based on a single piece of news.

The market will ultimately return to fundamentals in the long run. At this stage, patiently observing and responding rationally may be more reliable than chasing trends.