Monday's homework is incredibly difficult to write. The issues with Iran and Venezuela have not been resolved, and over here, Trump is hastily intimidating Powell. I wonder how many friends still remember that I posted a tweet two weeks ago about the approval ratings of U.S. government officials, where Powell ranked first, while Trump was at the bottom. As a result, Trump's threats towards Powell directly triggered market turmoil, with concerns about the independence of the Federal Reserve.

In fact, everyone knows that Trump is just looking for trouble. Powell quickly resigned as the Chairman of the Federal Reserve, and it seems Trump completely wants Powell out as a board member. However, this approach could backfire, as today, the last three former Federal Reserve Chairmen and some overseas central bank governors came out to support Powell, making Trump look even worse.

However, today the U.S. stock market also experienced a rollercoaster ride, oscillating throughout the day, and only showed a slight increase at the close. The S&P 500 even set a new historical high before closing. The price of $BTC also fluctuated similarly, but due to the rebound in the U.S. stock market, Bitcoin also saw a slight rise.

Looking back at Bitcoin's data, today's turnover rate is not particularly high, and investor sentiment remains quite restrained. The fact that there hasn't been a large-scale turnover amidst today's macro and political turmoil is already a good sign. Currently, there are two different voices in the market. One is that the U.S. economy is quite resilient, and the Federal Reserve may not increase rate cuts for 2026; some institutions even believe that the Federal Reserve won't cut rates in 2026 at all.

The other voice suggests that inflation in November may decrease due to the shutdown, while inflation in December may continue to rise, which could also suppress the Federal Reserve's preparations for rate cuts in 2026. Both perspectives are not optimistic about rate cuts in 2026, and the key contention remains whether Trump will interfere with the independence of the Federal Reserve after Powell's departure.

So, will the market view this interference as good or bad? We can only wait to see the results.

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