In five days, Powell will step down, and his successor will be Waller.

This news could have a bigger impact on the crypto world than many people imagine.
This leadership change not only determines U.S. interest rates but also the capital flow direction of the entire crypto market over the next six months.
Over the past few years, Powell has been the market’s most influential figure.

His statement “continue to raise interest rates” causes global stock markets, gold, and Bitcoin to plunge together;
His statement “consider cutting rates” immediately sends Bitcoin soaring.
So in the crypto circle, people often say not to oppose the Federal Reserve.
Now that Powell is stepping down and Waller is taking over, the market’s most concerned question is:
Is he truly loyal to the Fed, or does he insist on Fed independence?

Waller has been quite dissatisfied with Powell in recent years,
almost openly pressuring him every now and then, demanding a quick rate cut.
In Waller’s view, high interest rates not only drag down the U.S. economy but also impact stock performance and are less favorable to his political goals.
Waller’s previous statements lean somewhat dovish, suggesting that he believes rates should be relaxed more quickly when appropriate.
According to his past comments, a rate cut is expected around May or June,
otherwise, Trump will go ballistic and pressure him.
If Waller follows Trump’s wishes and cuts rates, he would be seen as a puppet chairman,
but the market will quickly reach a consensus:
“The new chairman is fully aligned with Trump, and the dollar will start to loosen.”

This is undoubtedly a major positive for Bitcoin.
History has shown that as long as dollar liquidity shifts toward easing, Bitcoin is often one of the first assets to move.
Funds first push Bitcoin higher, then spread to Ethereum, and finally to various altcoins and meme coins.
But there’s also another possibility.
If Waller takes office and is not eager to cut rates but instead emphasizes inflation risks and policy independence,
he could very well become the “second Powell.”

Then the market’s previous easing expectations will be quickly revised.
The crypto world fears not bad news but “expectation failure.”
If everyone bets on rate cuts and they don’t materialize soon, a sharp short-term correction in Bitcoin is not surprising.
Therefore, fundamentally, this leadership change is not just a personnel shift but a battle over monetary power.
Whether Waller will become Trump’s “puppet chairman” or a “new Powell” insisting on independence,
will be revealed soon.

For the crypto world, there are only two possibilities:
Either an acceleration of the bull market with liquidity easing;
or shattered expectations leading to another major market shakeout.
In the coming weeks, this could determine the direction of the big trend in the second half of 2026.
The real driver of a bull market has never been stories but the dollar—
which do you think it will belong to? #比特币波动