Since each former Federal Reserve chair took office, the U.S. stock market generally declined in the short term (3-10 months) with a drop of 7% to 33%, mainly due to measures to combat inflation, tighten liquidity, or sudden crises. Kevin Wash took office on May 15, 2026, with a hawkish stance, having previously criticized quantitative easing and advocated for stronger financial regulation. If history repeats itself, the market may first experience a period of volatility or a correction rather than immediately entering a new bull market.

As for cryptocurrencies (BTC/ETH):

· The historical pattern mainly applies to the U.S. stock market, but the crypto market is highly sensitive to liquidity. If Wash adopts tightening policies, risk assets could be suppressed, which is unfavorable for crypto in the short term.
· A true “bull market” requires a clear policy shift toward easing or the emergence of crypto-specific catalysts (such as post-halving effects or ETF capital inflows). Currently, the higher probability is for a repeat of historical volatility, and a new bull market will require more time to confirm. #Gate广场五月交易分享