Announcement: Powell will give a speech tonight, which may influence the pace of interest rate cuts and monetary policy expectations.

On October 14, at 00:20 Beijing time on Wednesday night, Fed Chairman Powell will give a speech at an event hosted by the National Association for Business Economics, with the theme "Economic Outlook and Monetary Policy." Powell's speech may influence the market's expectations regarding the pace of interest rate cuts and overall monetary policy, thus determining whether the current downtrend in the Crypto Assets market will deepen or stabilize. Blockchain data company Santiment previously noted that last Friday's dumping was not solely driven by tariff news. Retail investors quickly attributed the big dump to the tariff standoff, but deeper structural issues are accumulating, including excessive leverage and extreme concentration of long positions. Investors are closely watching whether Powell will release clues about the timing and magnitude of interest rate cuts tonight. Currently, the market generally expects the Fed to cut rates by 25 basis points in both October and December, with the probabilities reflected in the futures market reaching as high as 97% and 89%, respectively. The speech is expected to clarify the Fed's views on inflation, growth, and the impact of tariffs, and Powell's tone will determine whether market confidence is restored or further declines.