#美国民主党BlueVault Trump's political pressure on Powell ultimately reinforced the independence of the Federal Reserve, while this turmoil's impact on the cryptocurrency market may be severely underestimated.

The core logic of the event is actually quite clear: in order to push for interest rate cuts, Trump’s side reinitiated investigations through the renovation project of the Federal Reserve building, attempting to use judicial pressure to change Powell’s policy stance. But Powell’s response was unusually firm, outright stating that this was a naked intervention in the central bank’s independence. This statement quickly garnered support from his predecessor as Fed chair, with the global central banking system, Wall Street institutions, and even bipartisan lawmakers all standing with Powell.

What was the result? Trump’s pressure not only failed to achieve its goal, but instead made the independence of the Federal Reserve a focal point of global financial discourse, significantly boosting Powell’s policy credibility.

The impact on the crypto market is reflected in three dimensions:

First, the credibility of the US dollar is shaken. When the central bank independence of the world’s largest economy is challenged, the safety of traditional reserve assets is re-evaluated. $BTC and other crypto assets, as politically neutral stores of value, attracted a large influx of safe-haven capital, showing obvious risk-averse characteristics in the short term.

Second, expectations of rate cuts become more complex. Powell’s strengthened authority means greater autonomy in monetary policy, which in turn weakens market expectations for rapid rate cuts. However, at the same time, Trump is likely to continue exerting pressure, increasing uncertainty in the entire policy environment. In a high-volatility environment, this is actually conducive to the relative performance of risk assets.

Finally, and most critically: the revaluation of the value of decentralization. When conflicts between centralized authorities become apparent, people begin to reconsider what is trustworthy. Crypto networks that are not constrained by a single political system and maintained through cryptography rather than credit chains have their core value propositions become especially prominent.

The irony of this event is that Trump initially wanted to gain the initiative in economic policy, but instead delivered a powerful narrative pivot to the entire crypto ecosystem. From the market performance perspective, the influence of this pivot has just begun to manifest.