Washington's financial policy game is heating up. The tension between the Federal Reserve Chair and political forces is gradually becoming apparent, and the market is interpreting the deeper implications behind it.

When the centers of power begin to directly pressure interest rate decisions, the direction of monetary policy becomes predictable. Historical cases repeatedly show that as soon as rate cut expectations are confirmed, funds will be allocated in advance, and risk assets will lead the revaluation. This is not only a power play but also a signal of a turning point in the financial cycle.

From a micro perspective, what does a downward interest rate mean? The US dollar faces depreciation pressure. When the dollar is under pressure, international capital will inevitably seek alternative value storage tools. Liquidity will gradually shift from traditional assets to emerging asset pools — this is the market's self-consistent operational logic.

Cryptocurrencies and Bitcoin happen to be at the hub of this liquidity shift. They possess global liquidity characteristics and can provide a channel for value transfer when traditional financial systems are under stress. From a long-term cycle perspective, every adjustment in macro policies amplifies effects on risk assets.

The market has never ignored changes in the power structure. True opportunities often hide in the gaps of these structural shifts. The cycle is restarting, and the starting point of this restart is precisely now.