This month, Wall Street put on a good show.

Trump tried to influence Powell's tenure through judicial pressure, but instead, he turned him into a "guardian of the financial system." Absurd? Yes. But what signals does this power and institutional struggle send to the crypto market?

**Political calculations backfire completely**

As the investigation rumors surfaced, the market reacted immediately: expectations for Powell's reappointment surged, and lawmakers from both parties, along with former chairmen, publicly supported the Fed's independence. The original favored candidate faded into the background, while support for another candidate soared. The dollar came under pressure, gold skyrocketed, and capital voted with their actions—this is insurance for the system.

**Short-term vs. long-term duets**

Recently, the stability of the traditional financial system has been reinforced, and risk assets may see a recovery. But don’t celebrate too early—enthusiasm for rate cuts is waning, and expectations of liquidity easing are being re-priced. For markets accustomed to low interest rates, the rhythm will adjust.

But the longer-term logic is even more intriguing. What has this farce revealed? The desire for power over monetary policy has never disappeared. Every political game reminds market participants: relying on a single power center is risky. And this is precisely the reason for the existence of crypto finance—permissionless, decentralized systems that are not subject to a single will.

**The system won a round, but the war is not over**

Why do crypto assets like Bitcoin and Ethereum have value? Because whenever power attempts to redraw the rules, the market is reminded: there needs to be an alternative that does not rely on trusting a single institution.

This time, power lost to the system. But next time? The underlying logic of the crypto world—no matter how politics change, we always have a B plan—is being repeatedly validated.