$ZEC、$ASTER and other cryptocurrencies have recently become focal points. The real drama behind the scenes is in Washington—the open power struggle between the Federal Reserve Chair and the President over interest rate policies, which directly impacts global financial liquidity and, in turn, shakes the entire crypto market.

To clarify this situation simply: the President is pushing for rate cuts to stimulate economic growth and safeguard policy needs for next year. Meanwhile, the Fed Chair is maintaining the inflation defense line, refusing to loosen monetary policy, and emphasizing the importance of independent central bank decision-making. These opposing forces clash, seemingly a political game, but actually testing the long-term stability of economic policies.

Why is this worth the crypto community’s attention? Because the Fed’s interest rate decisions influence global capital flows. Imagine: if the President’s candidate ultimately joins the Fed leadership, the policy direction could shift dramatically, large-scale liquidity could be released, the dollar’s purchasing power could decline, and assets like $BTC would become relatively more attractive. The market could see a repeat of the upward cycle seen in 2020. Conversely, if a tightening stance persists, high interest rates will keep financing costs elevated, crypto assets will come under pressure, and investors may adopt a wait-and-see approach.

The key focus is on timing. The Fed Chair’s term will end in March next year, and the appointment of the new candidate is in the hands of the political sphere, with final Senate confirmation uncertain. This means that in the coming months, policy directions will remain uncertain, and market sentiment will fluctuate with various signals.

From an investment perspective, this policy uncertainty often brings volatility opportunities. The main point is to understand the probability distribution of the overall trend: under easing expectations, risk assets are favored; under continued tightening, cash is king. As non-sovereign currencies, cryptocurrencies like $BTC and $ZEC have value discovery processes that are highly correlated with macro liquidity.

The current strategic approach should revolve around this main line: continuously monitor policy evolution signals and adjust positions before and after key political battles. If you are optimistic about easing, consider gradually building positions; if not, stay cautious and wait for increased certainty. Market volatility is a reflection of this uncertainty, and uncertainty itself contains opportunities.