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.
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