#美SEC推动加密创新监管 The market has received significant news. Hassett has become a leading candidate for the next Fed chair, with the probability of election rising to 76%.

The candidate's dovish stance is well known. He has repeatedly stated that the current interest rate level is too high and is suppressing economic vitality. More importantly, he advocates for a significant reduction of the federal funds rate from the current range of 3.75-4.0% to below 3%. What does such a policy inclination mean for interest-sensitive markets? The answer is obvious.

Looking back at November, Bitcoin fell below the $90,000 mark. Liquidity tightening is the main driver. The crypto market essentially relies on dollar liquidity support, and this is no secret. If Hassett really takes office, he will bring not only expectations but also specific policy execution capabilities—he previously served as a senior economist at the Fed and is quite familiar with the policy advancement path.

Currently, Bitcoin spot ETFs are experiencing a continuous outflow of funds, and institutions are taking a cautious stance. What are they waiting for? They are waiting for a clear signal of a shift in liquidity. Once the interest rate cut policy is truly implemented, low-cost funds will quickly seek out high-elasticity assets. Bitcoin and Ethereum, as core assets in the crypto market, will undoubtedly be the first to benefit.

From the perspective of the policy environment, the current attitude of the U.S. government towards cryptocurrencies has shifted to a positive one. The stablecoin bill has just been passed, and the regulatory framework is gradually becoming clearer. If paired with a Fed chair who advocates for loose policies, this amounts to a dual combination of policy support and liquidity release.

Some may say that the Fed maintains its independence and will not easily cut interest rates. However, market demand is there, and Hassett's policy inclination has become very clear. For long-term holders, the value of this policy expectation shift cannot be underestimated.

The cryptocurrency market is currently at a critical liquidity juncture. The news of Hassett potentially being elected has begun to subtly influence market sentiment. The data is laid out before us; the rest depends on how policies evolve. $BTC $ETH