The changes in the Federal Reserve chairmanship have become a key topic in recent financial markets. This is not only a shift in power dynamics but also directly impacts the global liquidity landscape — and this influence on cryptocurrency prices is often underestimated.

On the surface, it appears to be an internal personnel change within the United States, but the deeper logic is: the Federal Reserve controls the flow of global funds. The appointment of a new chairperson means that the monetary policy direction at the beginning of next year is highly uncertain. If the policy leans towards easing, markets will face a new round of inflation expectations; if it emphasizes tightening, risk-averse funds will quickly flow into dollar assets.

The biggest enemy of the crypto market has never been price volatility but policy uncertainty. This high level of uncertainty can quickly trigger risk aversion: large funds will first sell risk assets to acquire dollars, with Bitcoin, as a high-risk asset, bearing the brunt of the pressure. However, such short-term sharp adjustments are often a prelude to medium-term opportunities — once the new policy framework becomes clear, especially if it favors liquidity release, asset prices are more likely to rebound.

The current strategy should be: maintain a stable mindset, avoid blindly chasing highs, and do not panic-sell. Specifically, keep sufficient stablecoin positions (USDT/USDC) before the beginning of the year to leave room for flexible adjustments. Closely monitor the movements of the US dollar index and actual yields on US Treasuries — abnormal fluctuations in these two indicators are often early signals of market changes and will reflect shifts in liquidity expectations in advance.

Manage risks well; the opportunities in this cycle are reserved for those who are prepared.