Today, the market resembled a farce. Initially, the PPI data exceeded expectations, boosting sentiment, but it was soon disrupted by rumors that "Trump wants to fire Powell." There were even reports that Trump had drafted details for the dismissal, causing market fluctuations. Although legally the president can dismiss the Federal Reserve Chair "for cause," it has never happened in history. Ultimately, Trump personally clarified that the rumors were untrue and stated that he would not change the nominee before Powell's term ends, specifically naming Hassett as a potential successor.

In the House of Representatives, a package of four bills entered the formal voting process after a key procedural vote. If passed, they will be sent to the Senate for review. The stablecoin bill has already passed in the Senate, and if the House does not make any changes, it will be sent directly to the president for signing. Trump also indicated that the stablecoin bill would pass tomorrow.

On the other hand, the WLFI community overwhelmingly approved the proposal for token circulation; meanwhile, Bitcoin's URPD data shows that current effective support is concentrated between $103,500 and $108,500, with the URPD gap at $112,000 to $114,000 expected to be filled, though the timing is unknown.

This article is sponsored by #Bitget ｜ @Bitget_zh

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