All eyes are on Federal Reserve Chair Jerome Powell’s speech today, as he is set to speak at 12:35 PM ET at the Greater Providence Chamber of Commerce. Investors and crypto traders are watching closely to see whether Powell signals more interest rate cuts or maintains a cautious outlook.
After the Fed’s recent 0.25% rate cut, Powell is expected to emphasize a data-driven approach for future rate decisions, noting weak job numbers and elevated inflation.
Analysts expect a cautiously dovish tone, suggesting that more rate cuts could happen if inflation eases and jobs data weaken. Markets have already started to react ahead of Powell’s speech today, creating short-term volatility in both traditional and crypto markets.
The Bitcoin price reaction to Powell’s speech today is already evident. BTC bounced from a strong support around 111.4K and is now testing the 113.1K resistance level.
If Powell signals further rate cuts or a dovish outlook, Bitcoin could surge toward 114K–115.5K, while a neutral or cautious tone may push prices back toward 111.4K or lower, leading to short-term volatility.
Traders are keeping a close watch on these levels to anticipate market moves immediately after the speech.
The altcoin market cap excluding BTC and ETH is currently testing a key trendline. If this support holds, altcoins could rebound and attempt a run toward their $1.16T all-time high
However, if the trendline breaks, altcoins may drop to the $920B–$960B range, creating potential selling pressure across the market.
Jerome Powell speaks today at 12:35 PM ET at the Greater Providence Chamber of Commerce, a key event for financial and crypto markets.
If Powell hints at more rate cuts, Bitcoin could rally toward 115K; a cautious tone may trigger a dip back to the 111K support level.
Yes. Altcoins could rise toward $1.16T if support holds, but a break below may drop the market to the $920B–$960B range.
Absolutely. His tone on interest rates often sparks quick price swings in Bitcoin, altcoins, and traditional markets.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Two recent SEC decisions are changing how crypto exchange-traded funds (ETFs) come to market. But…
The wider crypto market has signaled bullish sentiment akin to Gold and Silver, which hit…
Crypto markets are entering a powerful accumulation phase, and investors are zeroing in on assets…
The broader crypto market is showing early signs of recovery, with the global market cap…
Beijing-based investment bank China Renaissance is reportedly in talks to raise around $600 million to…
In what could mark one of the most significant turning points in the evolution of…
