The latest statements from Federal Reserve Chairman Powell and the actions of Japanese company Metaplanet increasing its Bitcoin holdings have had a complex impact on market sentiment and investor confidence in the cryptocurrency market. The following analysis examines its potential effects from two aspects. Powell's remarks conveyed multiple signals. He warned the market not to expect the Federal Reserve to intervene to save the market, emphasized independence, and indicated caution regarding the uncertainties of Trump's policies. This statement may suppress risk asset sentiment, including cryptocurrencies, in the short term, as investors may worry about policy fluctuations and economic slowdown. However, he also acknowledged the gradual mainstreaming of cryptocurrencies and suggested that regulation of stablecoins may be relaxed, injecting optimistic expectations into the industry. Easing regulations may attract more institutional funds into the stablecoin market, indirectly benefiting mainstream assets like Bitcoin. Market sentiment may thus oscillate between caution and expectation, with short-term volatility potentially intensifying, but in the long run, clearer regulations are beneficial for industry development. Metaplanet's issuance of $10 million in interest-free bonds to increase its Bitcoin holdings reflects the company's demand for hedging against cryptocurrency assets. This move may be seen as a strategy to hedge against inflation and currency depreciation, especially in the context of increasing global economic uncertainty. However, bond financing to increase Bitcoin holdings also carries high risks, as Bitcoin prices are highly volatile, and if the market declines, the company may face asset shrinkage and debt repayment pressure. For market sentiment, this move may boost bullish confidence in Bitcoin but could also raise concerns about the company's aggressive strategy. Overall, Powell's statements and Metaplanet's actions may exacerbate market volatility in the short term, but in the long run, they bring positive momentum to the cryptocurrency market. Investors need to pay attention to policy details and the financial condition of companies and respond cautiously.