Crypto market tonight focuses on: Powell's speech becomes a key variable

Cryptocurrency investors take note! Tonight at 22:00, Federal Reserve Chairman Powell will speak at the Jackson Hole Global Central Bank Annual Conference, and this speech is expected to stir up waves in the market.

Once Powell sends a dovish signal, clearly indicating the start of a rate cut cycle or showing an optimistic stance on the economic outlook, risk assets are likely to experience a boost. In this scenario, the stars of the crypto market — Bitcoin and Ethereum — are highly likely to see their prices rise in response, bringing benefits to investors.

However, if Powell maintains a hawkish stance and emphasizes that inflation has not been effectively contained, then market expectations for interest rate cuts will quickly cool, and the dollar will strengthen accordingly. At that time, the price trends of Bitcoin and Ethereum will not be optimistic and may face downward pressure.

In addition, before Powell's speech, at 21:00, 2025 FOMC voting member and Boston Fed President Collins will also be interviewed by Bloomberg Television, which may also release some economy-related signals.

The crypto market has always been highly sensitive to macroeconomic policies. What kind of information will Powell bring tonight? What direction will the prices of Bitcoin and Ethereum take? Investors need to pay close attention and make cautious decisions!