After the Federal Open Market Committee (FOMC) Meeting last night, investors in the crypto market fell into a collective state of entanglement. Powell's statement this time can be described as "outwardly a hardliner, secretly a point shaving"—repeatedly emphasizing "no rush to cut rates, economic data will decide," tightly grasping the decision-making power; yet behind the scenes, he quietly slowed the pace of balance sheet contraction. What does this mean? Although no official rate cut was announced, the gates of liquidity have already been loosened, providing covert support to a market in need of cash.

Inflation data has slightly eased, but he still insists that "current levels are too high"; his attitude towards the risk of new tariffs potentially driving up prices is ambiguous. The U.S. economy appears calm on the surface, yet businesses and consumers are in a wait-and-see mode due to frequent policy changes, making the future direction unclear. Meanwhile, Trump is launching an all-out attack on Powell—calling for his resignation, nicknaming him "Mr. Too Late", and threatening to initiate an investigation, with rumors circulating in the White House that Powell might resign voluntarily. Every time Trump raises an issue, U.S. stocks, bonds, and the dollar fluctuate, and the crypto market naturally cannot remain unaffected.

This round of quantitative tightening slowing down is not simply a prelude to interest rate cuts. Powell does not want to lose his tough image by easing rates, yet he is also worried that the exhaustion of market liquidity could trigger a collapse, so he chooses to "make a show of repairing the road while secretly crossing the river." The market criticizes him for being stubborn while secretly feeling relieved— the slowdown in balance sheet reduction itself is a signal of policy shift, and the keen-eyed funds have already started to quietly adjust their positions. Now everyone is focused on one question: Can Powell last until the end of his term in 2026? If a new chairman who supports loose policies truly takes over, will the crypto market usher in a new bull market?

Do you think Powell will really resign? If someone else takes over, will the crypto market be able to take off smoothly?