As we approach the end of June, the situation in the cryptocurrency market for 2025 has become quite clear! There are two main trading logic lines running through this year's crypto market: 1️⃣ One clear line is the debate over whether U.S. President Trump will push for interest rate cuts against Federal Reserve Chairman Powell this year. Although most macro analysts refuse to introduce a political dimension to analyze the interest rate cut debate between Trump and Powell, those who understand know the truth. Whether rates are cut or not is not directly related to U.S. inflation data or non-farm employment; it is actually a major tool in the political game between the Democratic and Republican parties in the U.S. Observing the current FedWatch interest rate cut expectations, Polymarket prediction markets, and Twitter sentiment, it can be seen that Powell firmly controls the discourse in the financial market, while Trump can only rely on various tariff wars to exert extreme pressure and make noise on social media to gain some influence in the financial markets. Therefore, in the future, at the two equilibrium points of this game—Powell's departure in May 2026 and the U.S. midterm elections—the entire market will be in a state of uncertainty brought about by the confrontational game between Powell tightening market liquidity and Trump stirring up trouble everywhere. 2️⃣ A hidden line is the integration of cryptocurrencies into the traditional financial system, participating in the reshaping of the dollar financial system. Whether it is increasing the U.S. Bitcoin strategic reserves under the principle of fiscal neutrality or the U.S. version of the debt conversion plan aiming to scale stablecoins to over $2 trillion in the coming years, including the upcoming market structure legislation clarifying whether the regulatory body for the crypto market is the SEC or the CFTC, and whether PerpDEX represented by Hyperliquid can operate in the U.S., Trump's regulatory actions and Vance's public speeches are all indicating that the Trump administration views cryptocurrencies as an organic part of reshaping the 21st-century dollar financial system. Thus, 2025 is destined to be a year of uncertainty. For us retail investors, this year's investments and trades are like a small boat sailing into a stormy sea with raging winds and waves. Making money from investments and trades this year is an epic challenge. However, 2025 is not a year to lie flat; finding certainty amidst uncertainty is the way of the wise. I see two certain layout opportunities for 2026: 1. U.S. version of debt conversion - stablecoins - PayFi - RWA 2. CFTC regulating the crypto market - PerpDEX - Hyperliquid/consumer chain - Abstract Anyway, our mission in 2025 is to stay at the table while secretly preparing our cards for 2026. That's all.