The White House has started taking action again.

Trump dropped a bombshell today - the new Chairman of the Federal Reserve has been chosen, but he just won't say who it is. This kind of teasing operation is hard for the market to bear! Even more outrageous is the rampant online rumor that Powell will hold an emergency meeting tonight to announce his resignation. True or false, no one can tell, but panic has already begun to spread across major exchanges.

What is the situation now?

Trump is playing a guessing game – "I have a candidate in mind, but it's not convenient to disclose it right now." What difference does it make to say this or not? The market is particularly afraid of this kind of ambiguity.

There are widespread rumors about Powell resigning, saying that an emergency meeting will be held on Monday to announce his departure. However, strangely, mainstream financial media are collectively turning a blind eye and not mentioning a word.

White House economic advisor Hassett was also not spared, being directly pushed to the forefront, with claims that he is a popular candidate. He quickly came out to refute the rumors: "Don't spread nonsense, I don't know anything."

Why is the market reacting so fiercely?

To be honest, although Powell is often criticized, at least his policy direction is well understood by everyone. If someone from Trump’s team takes office, the pace of interest rate cuts might change completely. For the crypto market, the uncertainty of macro policies is more terrifying than anything else—once the leverage is pressed, how many people will go directly bankrupt.

Recently, these mainstream coins like ETH have been moving in tandem with the movements of the US stock market. Whenever there is a slight change from the Federal Reserve, the on-chain funds immediately get anxious.

What should we keep an eye on next?

The first thing to confirm is whether there is really an emergency meeting on Monday night.

When will Trump announce the candidates? The possibility is greater around the time of the election debate.

If Powell really leaves, will there be a direct split within the Federal Reserve? This is the biggest variable.

Now this market is like opening a blind box; you can never guess what will happen in the next second. The only thing that can be certain is that, in the face of such a macro bomb, technical analysis can basically take a break.

Who do you think the new chairman will be? Is this market reaction an overreaction or a keen sense of smell?