The drama surrounding the selection of the Fed chair has indeed turned quickly in recent days. The latest polls show that Trump's former economic advisor Hassett's support has surged to 56%, reclaiming the top spot. In contrast, Wall Street faction representative Waller only has 22%, and the current board member Waller has been pushed down to 12%.

In simple terms, the key to this competition is one thing - who aligns more with Trump's economic philosophy.

The routes represented by the two competitors are completely opposite. Hassett leans towards aggressive easing, advocating for significant interest rate cuts to stimulate economic growth, which coincides with Trump's idea of "lowering interest rates and boosting asset prices." Once he is elected, the market may usher in a new round of liquidity easing cycles, and risk assets including cryptocurrencies may rise again.

Waller is different. This decision-maker, who hails from Wall Street, has publicly questioned the Fed's overly accommodative policy and advocates for strengthening financial regulation while cutting interest rates. If he comes to power, the market may face a policy pendulum in the short term—soothing the market with interest rate cuts while tightening regulatory constraints, which would make things less favorable.

This personnel confrontation is essentially another test of the independence of the Fed by the White House. The subsequent market movements may increasingly be influenced by the power games in Washington, rather than solely depending on employment data or CPI.

What does this mean for the crypto world? With Hassett in power, the expectation of easing may help Bitcoin continue to break new highs. If Walsh wins, the increase in regulatory pressure may lead to market fluctuations. Two scenarios, with huge differences in returns.