Bitcoin broke 108,000 in the American session, the Federal Reserve cut interest rates beyond expectations, European and American cryptocurrencies had different opinions, and began to awaken against the US dollar hegemony?

In recent years, the United States' attention to cryptocurrencies has shown signs of shifting from marginalization to strategic. In particular, the potential policy direction of the new government shows that the United States may regard Bitcoin as a strategic reserve asset in the form of "digital gold." Although this idea is still under discussion, the logic behind it is intriguing.

First, the US move is intended to consolidate its global financial hegemony. The status of the US dollar as the global reserve currency is being challenged, and the decentralized nature of Bitcoin provides an alternative form of reserve that can serve as an extension or even a supplement to the US dollar hegemony. Secondly, this policy is also closely related to the high flexibility of the US capital market. The attractiveness of Bitcoin as a high-risk asset forms a natural synergy with the Federal Reserve's loose monetary policy, providing investors with a wider range of choices. It is particularly noteworthy that the pragmatism of the US government is particularly evident in this process. The interaction with Crypto.com and the withdrawal of related lawsuits reflect the intention of cooperation between the government and enterprises in the formulation of the regulatory framework. This attitude provides a new reference for the formulation of cryptocurrency policies around the world.

Compared to the United States, Europe appears to hold a more conservative and contradictory stance on cryptocurrency policy. On one hand, the digital euro plan led by the European Central Bank indicates its desire to strengthen control over the monetary system through central bank digital currencies (CBDCs); on the other hand, Bitcoin is gradually becoming a symbol of 'digital freedom' advocated by certain European lawmakers.

The divergence in Europe's attitude towards Bitcoin is a profound game between the authority of central banks and the economic freedom of citizens. The European Central Bank aims to achieve more efficient monetary policy implementation through the digital euro, but this centralized model has also raised public concerns about privacy and excessive concentration of power. In contrast, Bitcoin's decentralized and anti-inflation characteristics are seen as a tool to counteract monetary policy failures, providing new leverage for some policy critics.

This contradiction is not limited to the policy level and may cause Europe to miss opportunities in future digital currency competition. Bitcoin is not only an innovation in asset classes but may also become a key variable in the competition for digital economy rules among emerging economies.

While discussing policy differences, the Federal Reserve's expectations of interest rate cuts have also opened up new imaginative spaces for the cryptocurrency market. Lowering interest rates not only reduces capital costs but also weakens the attractiveness of fixed income assets, forcing investors to seek high-return asset classes. Bitcoin, due to its high volatility and decentralized attributes, naturally becomes a potential target in the eyes of investors.