"Bitcoin Investors Await Fed Chairman Powell's Remarks

The cryptocurrency market remains volatile, with sudden declines in Bitcoin and altcoins increasing pressure on investors. Tomorrow, US Federal Reserve Chairman Jerome Powell will speak after the Fed's interest rate decision, and his statements may impact the crypto industry.

According to market experts, Powell may indicate that monetary policy needs more time, and the next move might be a rate cut. The Fed will likely adopt a wait-and-see approach until inflation becomes clearer. Bank of America economists anticipate a slowdown in quantitative tightening due to the US Treasury's reduced monthly redemption limit from $60 billion to $30 billion.

Economists believe Powell is pleased that this year's rate cuts have been largely priced in, and the Fed will likely struggle to control the market. If Fed officials and Chairman Powell avoid making harsh statements tomorrow, the crypto market may experience a partial recovery.

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