The battle for Trump's Fed leadership has entered the sprint stage. Three heavyweight candidates are competing for Powell's position in May next year, and the outcome of this power struggle may directly determine the direction of global Liquidity—put simply, it will decide whether the crypto market can benefit from this wave of dividends.

First, let's take a look at what styles these three have.

Hassett is widely regarded as the most radical member of Trump's inner circle. This guy is outspoken, believing that the Fed still has significant room to cut rates, and he firmly believes that the AI revolution can push GDP growth above 4%. If he takes office, it would be a signal of a decisive victory for the dovish faction—massive liquidity will undoubtedly flood into risk assets, and the crypto market, as a high-risk, high-reward haven, cannot be overlooked.

Compared to this radical faction, Waller is more like a "stabilizer" for the market. This gentleman is a representative of the technical faction and has a clear path planning for interest rate cuts. He believes that the current size of the Fed's balance sheet is reasonable and there is no need to make changes. His independence and professional competence give many institutional investors peace of mind - if he is elected, it could initiate a "stable growth + low volatility" cycle, and mainstream assets like BTC and ETH may become the preferred choices for institutional allocations.

Then there is Waller, who has quite a different perspective. He is very dissatisfied with the Fed's overreach in intervening in the economy and advocates for a significant reduction of the balance sheet. In the short term, such radical reforms may cause market turbulence, but in the long run, the purification of the policy environment may not necessarily be a bad thing for the compliance progress of the crypto market.

Interestingly, although these three individuals have different styles, they are surprisingly united on one core point: AI can unleash productivity and drive growth without inflation. This coincides perfectly with the long-standing expectations of the crypto market for technology-driven innovation.

The logic here is very straightforward - the Fed's interest rate cuts have always been a "booster shot" for risk assets. Once the liquidity faucet is turned on, whether it's Bitcoin, Ethereum, or other mainstream cryptocurrencies, it's hard to be left out. The market's money needs an outlet, and the liquidity advantages and 24-hour trading characteristics of the crypto market make it the best destination for these funds.

So the key question now becomes: which of these three do you think is most likely to become the head of the Fed? How will their respective policy philosophies shape the future landscape of the crypto market? When the rate-cutting cycle truly arrives, should we go all in on top assets like BTC and ETH, or take the opportunity to lay out some sector coins to bet on future narratives? These are all worth pondering questions.