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Trump has recently criticized Powell multiple times, accusing him of having overly tight policies and threatening to fire him.

Under the dual influence of "macroeconomic chaos + policy uncertainty," gold has once again become the core safe-haven anchor in the eyes of global capital.

The current cryptocurrency market presents a stark contrast between extremes.

Trump suddenly announced a 90-day suspension of tariffs on countries that do not take retaliatory actions. The U.S. stock market experienced an epic rebound, and the cryptocurrency market celebrated simultaneously. However, behind the frenzy, uncertainty and a wait-and-see attitude in the market remain strong.

Whenever significant events approach, investors tend to avoid risks.

The Federal Reserve's dovish turn injects a strong dose of confidence into the market, while the "emergency brake" on the pace of balance sheet reduction and the potential policy benefits from Trump's DAS speech may jointly support a short-term rebound in the cryptocurrency market.

Spot gold surged past $3,000 driven by safe-haven buying, reaching a new high, with a cumulative increase of over 15.19% this year.

The short-term benefits have been exhausted, and macro risks are intertwined, triggering widespread panic in the market.

The US stock market was severely hit, dragging down the cryptocurrency market. BTC fell below the $80,000 mark for the second time in three weeks, reaching a low of $76,600, essentially returning to the level seen when Trump won the election last year.

White House cryptocurrency director David Sacks stated on X that President Trump signed an executive order that day to establish a strategic Bitcoin reserve.