#BTC Currently, Bitcoin is moving sideways around 77, waiting for the evening fundamentals. First, we’ll discuss the evening; then we’ll talk about the early-morning fundamentals. At 10 PM, “Wells” will be nominated as the Chair of the Federal Reserve. So what impact will this have on Bitcoin?

The “Wells” nomination can basically be considered to have passed—of the votes, only one was against, and that vote has turned into support. For this market, it’s a mixed picture—good and bad are intertwined. But in the long run, the “pros outweigh the cons.”

1: Reduce reliance on quantitative easing. This is a typical “hawkish” stance, because without easy liquidity, Bitcoin will be difficult to strongly push upward.

2: Wells advocates using interest-rate tools to manage the economy. If that’s truly the case, then room for rate cuts will open up—which is positive for Bitcoin.

3: “Wells” views digital assets as “part of the financial system.” Compared with Powell’s cold/detached attitude, this is a major shift, and it helps to support institutions moving into the market.

4: The “change-of-leadership curse”: every time the Fed changes its chair, Bitcoin tends to drift downward in the short term. But if “Wells’s” stance on interest-rate regulation does not back off, then the tendency is toward being bullish.

So it’s both contradictory and reasonable. Overall, with Wells taking the stage, it means Bitcoin is shifting from a mere “liquidity barometer” to a “new type of asset” that is influenced by macro factors and also benefits from top-level institutional policy dividends. There may be some pressure in the short term, but it’s positive in the long run. #加密市场小幅下跌