Powell speaks: Bitcoin's competitor is gold, not the dollar! Bitcoin only needs one sentence to break 100,000!

1. The independence of the Federal Reserve cannot be challenged

Powell emphasized that the independence of the Federal Reserve has broad support from the U.S. Congress, which allows the Fed to make the best decisions.

He mentioned that the Fed's operating funds are self-sufficient, so there is no concern about its independence being undermined.

2. Bitcoin vs. Gold

Powell stated that Bitcoin's competitor is gold, not the dollar:

Characteristics: Like gold, Bitcoin is also a store of value asset, but its volatility is too large to be used as a payment tool.

Conclusion: Bitcoin does not threaten the dollar's status as the global reserve currency but competes with gold for market share.

3. Trump appoints cryptocurrency supporter as SEC Chairman

U.S. President-elect Trump announced the nomination of Paul Atkins as SEC Chairman.

Trump stated that Paul Atkins recognizes the importance of digital assets to the United States.

Market reaction: After the news broke, Bitcoin surged from $95,000 to $99,000.

4. December interest rate cut expectations heat up

After Powell's remarks, several analysts expect a 25 basis points cut in December, while January may see rates remain unchanged.

Market expectations:

Probability of a 25 basis points cut in December: 78.1%;

Probability of holding rates unchanged: 21.9%.

Summary:

Powell's comments further reinforce Bitcoin's positioning as "digital gold," while Trump's nomination may bring more positive news to the cryptocurrency market. As expectations for a rate cut in December heat up, market sentiment is high, making the next wave of Bitcoin's market worth watching!#BTC新高10W #历史见证者打卡