The policy direction has changed, is the Fed going to comply?

The recent market signals are quite interesting. After the new U.S. government took office, expectations for interest rate cuts have soared — key figures have openly stated that the new central bank leader must be a "master of interest rate cuts," and that rates should be slashed to "the lowest level in the world." With such statements being made, the current chairman must be re-evaluating his career plans while sitting in his office.

Interestingly, the market's reaction is noteworthy. Trump Media (a tech company) has recently purchased another 451 bitcoins in the past month, bringing its total holdings to over 11,500 coins, with a book value exceeding $1 billion. This situation tells a story in itself—while the higher-ups have not yet officially reformed policies, relevant companies have already cast their votes with real money: confidence in crypto assets currently surpasses expectations for the traditional financial system.

Retail investors can't sit still when they see this signal. On-chain data shows that large holders are accumulating, and the retail side is also starting to become active, with a noticeable rebound in market sentiment on the exchange.

In contrast to the Fed, economists are still deliberating on the dot plot about "at most two rate cuts next year," but political pressure is already on the table. Once the policy really shifts direction from tightening to easing, the transformation of Bitcoin from a "risk asset" to a "store of value" will truly take place.

The Fed in 2026 may no longer be the institution that upholds "independence," and the interest rate policy may undergo a major shift. For the crypto market, this macro change is just beginning.