Powell's Upcoming Speech May Influence Cryptocurrency Market Trends

According to BlockBeats, U.S. Federal Reserve Chair Jerome Powell is scheduled to deliver a speech at the National Association for Business Economics event, focusing on 'Economic Outlook and Monetary Policy.' The address, set for 00:20 UTC+8, could impact market expectations regarding interest rate cuts and overall monetary policy, potentially influencing the current downward trend in the cryptocurrency market. Blockchain data firm Santiment previously noted that last Friday's sell-off was not solely driven by tariff news. Retail traders quickly attributed the sharp decline to tariff tensions, but deeper structural issues, such as excessive leverage and extreme concentration of long positions, are accumulating. Investors are closely watching to see if Powell will provide any hints about the timing and extent of interest rate cuts. The market widely anticipates the Federal Reserve will reduce rates by 25 basis points in both October and December, with futures markets reflecting probabilities of 97% and 89%, respectively. Powell's speech is expected to clarify the Fed's views on inflation, growth, and the impact of tariffs, with his tone likely determining whether market confidence will recover or further decline.