Does Trump support cryptocurrencies? If this had happened two years ago, the crypto community would have celebrated with fireworks for three days and nights.

But now I’m staring at my phone screen, honestly feeling a bit anxious.

It’s not that I’m not optimistic; it’s that this round of political moves is happening too quickly. Earlier, people were saying that whoever wins the election would be a bearish signal, and now the candidates are openly calling for relaxed regulation—cryptocurrency has become a must-answer question for swing state voters.

$HIGH This wave didn’t move much, but the overall market sentiment is clearly changing—funds aren’t flowing in, but more people are standing around the poker table.

I remember back then, as soon as the words “policy” or “regulation” were mentioned, the contract markets would see a spike. Long and short positions both attacking, and without some protection, you couldn’t withstand it.

Now the trend has shifted, making people even more hesitant to chase. Looking at the election cycle, it seems positive on the surface, but in reality, it’s the greatest uncertainty—who will take office, how policies will be implemented, whether the CFTC will allow certain activities—all still uncertain.

My current stance is: I’m not fully in or out of the market. I hold some core positions, but leverage is very low. My market sense tells me this wave of sentiment can last a few more days, but don’t get over-leveraged.

If it breaks a key level, I’ll admit it—no pretending to be a teacher.

Back to on-chain matters.

In recent days, the prediction market has been under attack from three sides—federal judges opposing the CFTC, state governments simultaneously suing Polymarket and Kalshi, and even CME planning to sue the CFTC over perpetual swaps being classified as derivatives.

In plain language, the entire regulatory framework is being redrawn. The legal battles over on-chain prediction markets in the short term will suppress capital inflows, but in the long run, they will clarify boundaries.

Once this line is drawn, platforms like $HIGH that focus on on-chain prediction markets are likely to face a wave of liquidation sentiment first, and then big funds will dare to enter.

How long do you think this political move can last? Share your thoughts in the comments—I want to see if anyone else is waiting for a pullback to jump in.
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