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Since the appointment of past Federal Reserve Chairmen, U.S. stocks generally decline in the short term (3-10 months) (drop of 7%-33%), mainly due to responses to inflation, tightening liquidity, or sudden crises. Kevin Wash took office on May 15, 2026, with a hawkish stance, having 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 U.S. stocks, but the crypto market is highly sensitive to liquidity. If Wash adopts tightening policies, risk assets may be suppressed, which is unfavorable for crypto in the short term.
· The true "bull market" requires a clear policy shift to easing or the emergence of crypto-specific catalysts (such as halving effects or ETF capital inflows). Currently, the higher probability is for repeating historical volatility first, and a new bull market will require more time to confirm.