At the beginning of the Asian trading session on August 15, the cryptocurrency market showed a volatile trend. Bitcoin rose slightly by about 3%, with the price hovering around $119,000. Meanwhile, Ethereum also experienced a rebound, climbing back above the $4,600 mark.

The day before, influenced by U.S. inflation data that exceeded expectations, market expectations for interest rate cuts have decreased. Additionally, the U.S. Treasury's initial statement that it would not expand Bitcoin purchases led to Bitcoin falling more than 3% from its historical high. Ethereum was also not spared, as it dropped 3.3% after reaching a new high due to increased profit-taking pressure.

However, the attitude of U.S. Treasury Secretary Scott Bessenet seems to have undergone a subtle change. Initially, Bessenet stated that the strategic Bitcoin reserve would be limited to the government's existing Bitcoin holdings of $15 billion to $20 billion, with no consideration for new purchasing plans. This statement once triggered market turbulence, causing Bitcoin to sharply decline from its historic high of $124,000 to $118,000.

However, later that day, Basant's statement underwent a significant change. He mentioned that the finance department is "committed to exploring budget-neutral ways to acquire more Bitcoin in order to expand reserves." This statement seems to suggest a potential shift in the government's attitude towards holding Bitcoin.

The oscillation of this policy stance reflects the complex environment currently faced by the cryptocurrency market. On one hand, mainstream cryptocurrencies like Bitcoin are experiencing significant appreciation; on the other hand, policymakers still have disagreements and uncertainties about how to manage and utilize this emerging asset class.

Market participants are closely monitoring every subtle change in U.S. government policy on encryption, as these changes could significantly impact future market trends. As encryption gradually integrates into the mainstream financial system, the interaction between government policy and market response will become increasingly noteworthy.