Bitcoin, Ethereum's movements are captivating, but the real big event will unfold tomorrow.

The U.S. Supreme Court is set to hear the "Trump v. Cook" case, which on the surface appears to be a political lawsuit, but in essence concerns the survival of the century-old Federal Reserve. The core issue is quite sensitive: does the White House have the authority to directly dismiss Federal Reserve governors?

If the court rules in favor of the White House, the President could replace Fed officials at any time. What does this mean? Monetary policy would no longer be independent but become a pawn in the power game. UBS has already issued a warning: Powell's days may be under threat.

Even more alarming details are yet to come—

The Department of Justice is now investigating the "Fed Renovation Gate" incident, with speculation that this is paving the way for Powell's early removal. Powell's term as a governor is protected until 2028, but if the DOJ's power expansion is approved, this constraint could be as thin as paper.

What does this mean for the crypto market? The pillars of the market—USD, US Treasuries, and central bank credit—are all shaken. The volatility in 2026 could surpass market expectations because the imagination of policy stability is lost.

The current question is not "buying on dips or waiting," but that the underlying logic of the market itself has changed. When institutions like the Federal Reserve, which seem solid as a rock, can be politically hijacked, what can investors still rely on?