# 沃什宣誓就任美联储主席

Are miners starting to capitulate? BTC reserves continue to decline, and a truly dangerous signal has emerged
Many retail investors are still studying "K-line support levels," but those who truly understand are already watching miner wallets.
Because miners are the most honest people in the crypto world.
Latest data shows: Bitcoin miner reserves are continuously decreasing.
Translate:
Miners are starting to sell coins.
Why is this dangerous?
Because miners are not ordinary players; they are the "producers of BTC." Even producers are beginning to reduce their inventories, indicating that short-

I’ve been pretty busy lately, so I haven’t posted much. During the Bitcoin drop, I averaged down. After trimming my long-term short on Ethereum, it hasn’t moved since; I’ll leave the rest to time. Everything hinges on whether Bitcoin at 7.50万 can break below. If Bitcoin at 7.50万 breaks, the downside space will be beyond what you can possibly imagine. Congratulations to all the friends who followed along—taking a long-term short of 8.20万 and 2300, for 7000 points and 250 points. So exciting! #沃什宣誓就任美联储主席 $BTC $ETH

#TradFi交易分享挑战
‍# Wosh Swears in as Federal Reserve Chair
Last night at 11 p.m., Kevin Wosh officially took the oath of office as the 17th Chair of the Federal Reserve at the White House, bringing the dramatic reshuffle of Fed leadership to a close. What policies might Wosh pursue during his tenure? How will they impact the crypto world? Let’s take a look with Xiao Caishen.
1. Policy Direction: Structural Reconfiguration with “Balance Sheet Reduction + Rate Cuts” as Dual Engines
Wosh’s policy framework is not based on the traditional “hawk-dove” binary but constructs an‌ counterintuitive

Tonight at 11 PM, Kevin Warsh officially takes over for Powell.
The key is, his background and all circumstances are different from everyone else—inflation has been rising for three consecutive months, Middle East tensions are fluctuating, and U.S. stocks remain under pressure at high levels. Rate cuts? The market no longer expects them.
How to interpret this leadership change?
👉 Historically, whenever the Federal Reserve "changes hands," the market is mostly in a wait-and-see phase in the first quarter, with volatility actually tending to narrow, but the real "lock-in period" begins from 3 t