Last night, Federal Reserve Chairman Powell delivered an important speech. Key points:

23:28 Powell: The economy is strong.

23:29 Powell: Cutting interest rates prematurely will cause great disruption.

23:31 Powell: We don’t need to rush to cut interest rates.

23:32 Powell: We can wait and become more confident before cutting interest rates.

23:32 Powell: If the data does not match our expectations, we have the ability to react.

23:38 Powell: If our fundamental situation does not change, we will keep interest rates at current levels for a longer period of time.

Comment: Powell’s speech this time also leaves an optimistic pie for future interest rate cuts in this cycle, so the risk market will not be pessimistic and may adapt soon. Even after early expectations, there will be a significant rebound at the end of next week's data release.

However, I believe that next week’s employment data will probably cater to Powell’s current speech. Although the data cannot be falsified, the data can be untrue and can be revised.

Of course, it is emphasized again that interest rates will not be cut in the short term. It is just lowering expectations for a rate cut in June and then postponing it to July. There is still a buffer period of several months from the current stage, so even if next week's data confirms the short-term unease in Powell's speech, Considering the expectation of interest rate cuts will not bring much panic to the market.

Bitcoin currently continues to hover around 70,000, but the power of altcoins is recovering. This week, altcoins are more likely to get more opportunities if Bitcoin continues to fluctuate.

So, this week we look forward to the performance of the altcoin market, and next week we wait for Bitcoin to emerge from the haze of March. #BTC