The possible implications of Powell's speech include:

Dovish Tone (more lenient): If Powell indicates a more flexible stance regarding monetary policy, acknowledging signs of economic slowdown or controlling inflation, this could boost the crypto market, leading to an appreciation of Bitcoin and other cryptocurrencies.

Hawkish Tone (more rigid): On the other hand, if the speech emphasizes concerns about persistent inflation and the need to maintain a restrictive monetary policy, this could negatively impact the crypto market, resulting in price drops.

Additionally, the recent "Pectra" update of the Ethereum network, focused on scalability improvements, is also on investors' radar, potentially influencing the performance of altcoins.