Recently, a series of actions surrounding the Federal Reserve have been worth paying attention to. The Department of Justice hearing remarks sparked a controversy, and Powell explicitly stated that this was a challenge to the independence of the Federal Reserve. The high-level officials quickly distanced themselves, making the whole situation even more complex and mysterious.

The core issue is actually quite clear: Will the future policy-making of the Federal Reserve be based on objective economic data, or will it be influenced by political pressure? This is no small matter.

If the central bank becomes a pawn in political games, the consequences could be severe. First, the credibility of anti-inflation efforts would be damaged, and market expectations for monetary policy would become chaotic. Second, long-term uncertainty would rise significantly, which is what financial markets fear most.

What does this mean for the crypto market? When the core institutions of the traditional financial system—the central banks—lose credibility, investors' risk sensitivity becomes exceptionally sharp. Historically, whenever trust in centralized authorities creates a vacuum, decentralized alternatives tend to gain more attention. It’s not that crypto assets can solve all problems, but when certainty within the system decreases, outside-the-system options naturally come into investors’ view. Whether this political ripple from Washington can ultimately translate into market action depends on whether risk expectations continue to escalate.