Central banks around the world are unanimously siding with Federal Reserve Chair Jerome Powell. Currently, he is facing unprecedented pressure from Trump — this collision of politics and economics is reshaping market expectations.

From the European Central Bank to the Bank of Japan, the attitudes of major central banks on key issues such as exchange rates and interest rates have become delicate. Every move Powell makes not only concerns the outlook of the U.S. economy but also directly influences global capital flows. As one of the most sensitive asset classes to macro policies, the crypto market is closely monitoring these signals.

Trump's pressure is evident, but the independence of central banks is also under the spotlight. The outcome of this game will determine the trend of risk assets in the coming months.