U.S. Treasury Secretary Behnam recently revealed that Trump clearly stated he would not remove Fed Chairman Powell from office. This statement has attracted widespread attention in the financial sector and also sent an important signal to the crypto assets market.

From a macroeconomic perspective, the stability of the position of the Fed Chairman directly affects the direction of monetary policy. Under Powell's leadership, although the Fed's monetary policy has experienced some fluctuations, it has generally maintained a relatively stable pace. Trump's decision to retain Powell means that it is unlikely for monetary policy to undergo a drastic shift due to personnel changes in the short term. For the crypto assets market, a stable monetary policy environment is crucial. History shows that during periods of aggressive rate hikes by the Fed, cryptocurrencies like Bitcoin often face selling pressure due to tightening dollar liquidity. In contrast, when policy expectations are stable, the market is more likely to form a rational pricing mechanism.

From the perspective of market sentiment, the sensitivity of crypto assets to macro policies is constantly increasing. When policy uncertainty decreases, the wait-and-see attitude of institutional investors often alleviates. Data shows that during the rumors of a potential change in the Fed chair in 2024, the institutional holding volatility of Bitcoin futures surged by 37%. However, once the policy becomes clear, the volatility returns to normal levels. Trump's statements undoubtedly inject a 'confidence booster' into the crypto market, which is expected to reduce concerns about institutional capital entering the market, thereby enhancing market liquidity.

From the perspective of asset pricing, the stability of the Fed implies that the fluctuations of key indicators such as the dollar index and U.S. Treasury yields may converge. As 'digital gold', Bitcoin has a close connection with the U.S. dollar liquidity environment. When monetary policy expectations tend to stabilize, the demand for Bitcoin as a hedge and speculative tool will find a clearer pricing benchmark.

Overall, Trump's statement about keeping Powell not only affected traditional financial markets but also had a profound impact on the Crypto Assets market. This decision may have provided a relatively stable macro environment for Crypto Assets, benefiting the healthy development of the market and the confidence building of long-term investors. However, investors still need to closely follow the global economic situation and policy changes, as the volatility of the Crypto market remains high, and any significant events could trigger drastic reactions in the market.