New Fire Research Institute: The new Federal Reserve Chair holding Bitcoin has just taken office, and Bitcoin has surged strongly this morning.

ME News Report, May 15 (UTC+8), Bitcoin rebounded from yesterday's low of approximately $79,300 to briefly break through $81,500, with a 24-hour increase of over 2%. Market sentiment has clearly warmed up, driven by the "dual positive" factors from U.S. regulation and macro policy.

First, on May 13, the U.S. Senate officially confirmed Kevin Woorh to succeed Jerome Powell as Federal Reserve Chair with a vote of 54:45. This is the most partisan-divided confirmation vote for a Fed Chair in modern history, signaling a new phase in U.S. monetary policy. The market generally believes that Kevin Woorh is more open to digital assets and market innovation compared to Powell. Several media outlets pointed out that he is the first Fed Chair with direct investment ties to cryptocurrencies, and has publicly stated that Bitcoin is "a form of policy constraint."

More importantly, the U.S. crypto regulatory framework has also made significant breakthroughs. On May 14, local time, the U.S. Senate Banking Committee officially passed the "CLARITY Act," with a final vote of 15:9. The bill will next be submitted for full Senate approval. Notably, three stronger regulatory amendments proposed by the more conservative Senator Elizabeth Warren were all rejected, which the market interprets as the U.S. mainstream regulators shifting from "restricting crypto" to "accepting and integrating into the system."

Specifically: Amendment No. 52 was rejected, meaning the original provisions of the bill remain intact, allowing traditional large banks to legally hold, trade, and provide services related to crypto assets in the future. This will bring larger institutional funds and liquidity into the industry; Amendment No. 64 was rejected, temporarily preventing the Treasury Department from expanding sanctions on DeFi/mixing tools like Tornado Cash, indicating a phased easing of regulatory pressure on decentralized finance ecosystems; Amendment No. 74 was rejected, meaning the industry does not need to establish new dedicated investor protection procedures, reducing compliance barriers and business promotion costs.

Overall, the three amendments leaning toward stricter regulation were all rejected, effectively signaling a clear "relaxation" from U.S. regulators to the market, especially benefiting banks, stablecoin systems, and DeFi ecosystems.

The XinHuo Research Institute believes that this round of price increase is not just a short-term emotional rebound, but reflects a structural change beginning to occur in the U.S. crypto policy framework. In recent years, the biggest suppressor of the crypto market has not been technology but uncertainty. Now, two main changes are happening simultaneously in the U.S.: first, the Federal Reserve is entering a new cycle, and the market is beginning to reprice future liquidity expectations; second, Congress is substantively pushing forward legislation on digital asset market structure for the first time, indicating that crypto assets are gradually moving from "gray area innovation" to "mainstream financial system." For the market, this means Bitcoin is gradually shifting from a "high-risk marginal asset" to a new global asset with policy legitimacy and institutional allocation logic. The XinHuo Research Institute continues to maintain its previous view: the current market still falls within a cost-effective strategic allocation zone. (Source: XinHuo Group)