Powell recently gave Bitcoin a new definition: its real competitor is actually gold, not the US dollar.

That's quite interesting. Traditionally, people have always worried about whether cryptocurrencies would threaten the fiat currency system, but the Fed chairman has flipped this logic—Bitcoin isn't really taking the currency route at all; essentially, it's competing with gold in the store-of-value arena.

In other words, in the eyes of central banks, BTC is more like "digital gold" rather than "digital dollars." With this positioning, in a way, it actually gives the crypto market some peace of mind: you serve as a safe-haven asset, I manage my monetary policy—each minding their own business.