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đšđ„US Fed Chair Powell Speaks
On September 30 at UTC 17:55, Federal Reserve Chairman Jerome Powell delivered a speech that outlined the Fed's cautious approach to future rate cuts. Key takeaways from his statement and their potential impact on the cryptocurrency market include:
Data-Dependent Approach: Powell emphasized that rate cuts will be based on incoming data, indicating no immediate rush to ease monetary policy. This could limit any strong bullish breakout in Bitcoin and other major cryptocurrencies.
Tight Liquidity Conditions: Without significant rate cuts, liquidity in the market may remain constrained, likely keeping $BTC and other major coins like $ETH and $BNB in a range-bound pattern.
Economic Strength: Powell noted that the U.S. economy remains robust with no signs of an imminent recession. This may prevent a sharp sell-off in risk assets, including cryptocurrencies, but a major price surge is unlikely until there's clearer guidance on rate cuts.
Short-Term Predictions: Bitcoin could test support levels in the short term, while other major cryptocurrencies may also experience sideways movement, awaiting more policy clarity.
