Investors in the English-speaking community are analyzing the reasons behind the simultaneous decline of US stocks and Bitcoin tonight. The general consensus points to uncertainty surrounding the Fed chair nomination—especially the sensitive topic of whether Kevin Hasset can succeed Powell. Trump's speech tonight seemed somewhat reserved in its attitude toward this candidate, and the market's reaction was sensitive. The direction of Federal Reserve policy has always been a key factor influencing cryptocurrency prices, and leadership changes often trigger short-term volatility. This reminds us that macro policy uncertainty can indeed directly impact digital asset valuations.