#美联储联邦公开市场委员会决议 $BTC, $ETH, $DOGE recent performance actually all reflect the same thing — a sharp change in macro liquidity expectations.

What happened yesterday? Gold and silver experienced a rapid plunge, and US stocks also shook. On the surface, it looks like an emergency event, but in reality, it reflects the market's re-pricing of interest rate outlooks.

The cause is straightforward: Trump exerted pressure again, hinting that he hopes to see a more "cooperative" Federal Reserve leadership to bring rate cuts sooner and ease government debt pressures. But the Fed's response was even more direct — Chicago Fed President Goolsbee explicitly stated that if the central bank cuts rates due to political pressure, it is essentially printing money to pay off debt. This touches on the Fed's most valued principle: independence.

The market understood the underlying message. The result? Gold fell more than $100 within two hours, as in a high-interest rate environment, the appeal of interest-free assets diminishes significantly. Although US stocks later recovered, tech stocks remained weak, with only companies with strong fundamentals like Tesla and Apple defying the trend and rising.

Now, the question becomes twofold: will upcoming economic data break the market's existing expectations of Fed policy? How will this "power struggle" between the US government and the Fed ultimately end? When central bank independence becomes a publicly discussable bargaining chip, the entire investment framework could be rewritten.

What do you think? Can the Fed hold its ground under this pressure?