Recently, a storm has erupted in American politics. House Representative Anna Paulina Luna has made serious accusations against Fed Chairman Powell, claiming he perjured himself twice regarding building renovations and project cost issues. If these accusations are proven true, Powell could face up to 5 years in prison.

The development of this event is noteworthy, and Powell seems to be caught in a political vortex. However, this is not just a political spectacle; it may have profound effects on the cryptocurrency market. The credibility of the Fed is being questioned, which could accelerate market expectations for interest rate cuts.

Meanwhile, Yardeni Research predicts that interest rates may remain unchanged in July. Against this backdrop, the perjury scandal facing Powell could drive up the prices of cryptocurrencies like Bitcoin, which are seen as safe-haven assets. Investors should closely monitor ETF fund flows and consider increasing their Bitcoin holdings to cope with potential market volatility.

In the coming week, the correlation between traditional stock markets and the cryptocurrency market may become closer. Powell's response to these allegations will be a key turning point for the market. The development of this event not only concerns the credibility of the Fed but may also have far-reaching implications for global financial markets. Investors should remain vigilant and closely monitor the situation.