LSK spot trading

Just after officially announcing that banks can freely engage in cryptocurrency business, the chairman is ready to throw in the towel? This plot twist comes unexpectedly.

Yesterday, Powell made a public statement that traditional banks can openly engage in cryptocurrency-related businesses. The folks on Wall Street were all green with envy, with financial giants like JPMorgan and Citibank ready to pounce at any moment. However, before the market could digest this news, Reuters directly quoted a Washington insider saying - he is resigning.

U.S. stock futures went haywire, and the dollar index plummeted like a kite with a broken string. Bitcoin is even more outrageous, soaring from $81,000 to $91,000 in one breath; this surge makes people's hearts race.

But upon further thought, I feel that something is off: the end of the year is supposed to be the tightest time for liquidity, why choose this critical moment to change personnel? There is an emergency meeting at 7 PM tonight, what is the agenda? Could it be that they will use the personnel changes to make a big policy shift? Moreover, whether the new person is hawkish or dovish is directly related to the thickness of our wallets.

Looking back at history, we know that a change of leadership at the Federal Reserve is never a small matter. When Powell took over from Yellen in 2018, BTC halved in value that month. In 2022, during his reappointment, the US stock market faced the worst earnings season in a decade. Now that this is happening again, how can the market not panic?

However, looking at it calmly, things have two sides. If the dovish faction takes over, interest rate cut expectations will definitely be realized earlier, and when liquidity is loosened, the crypto market is likely to welcome a wave of frenzy, where holders can just lie back and earn. Even if the hawkish faction takes over, although there may be short-term pain, tightening policies will instead create good opportunities for bottom fishing. Moreover, the premium of Grayscale's GBTC has been continuously expanding, and the fear and greed index has soared into the extreme greed zone; smart money has already started to quietly position themselves.

What do you think about tonight's emergency meeting? What style will the successor have? Can Bitcoin break through the 100,000 mark with this favorable momentum? Let's discuss your thoughts in the comments.