#美国证券交易委员会推进数字资产监管框架创新 $BTC $ETH $BNB

Trump's recent national address sent out many signals. Over his 11 months in office, he has emphasized a series of policy achievements—from border control to military modernization, to distributing $1,776 to each of the 1.45 million active service members (a clear nod to the significance of the Revolutionary War). The core of this approach is to demonstrate the "economic recovery" to the market.

On the investment front, Trump claims to have attracted $18 trillion in funds (though the actual figure might be somewhat lower), but this number alone is enough to excite investor expectations. The key word is "expectation"—markets tend to look not at the present but at the future.

Regarding inflation, his logic is very clear: the legacy issues left by his predecessor are being fixed. What does this mean? It means he will continue to push the Federal Reserve toward a dovish stance—whether through rate cuts or easing liquidity. Polls show only 36% economic approval? Not important; the market is already pricing in his policy tilt.

Wall Street's reaction is quite straightforward: a potential start of rate-cutting cycle, increased pressure for dollar depreciation, and ample liquidity. Under this expectation framework, crypto assets, due to their high liquidity sensitivity, have become direct beneficiaries of loose liquidity. The rate policy game between Powell and Trump is rewriting the entire market’s asset allocation logic.