According to Odaily Planet Daily, Noelle Acheson, crypto analyst and partner at Triple Crown Digital, said that Federal Reserve Chairman Jerome Powell is expected to make some "exciting remarks" on Wednesday and hint at a rate cut in September.

This week, market watchers expect the Federal Reserve to announce a rate cut in September at its Federal Open Market Committee meeting, with other central banks such as the Bank of England and the Bank of Japan expected to make similar announcements.