The market is currently waiting for Powell's speech at 10 PM tonight. This speech will influence or directly provide an answer regarding whether there will be an interest rate cut in September. Therefore, special attention should be paid tonight. Currently, the market sentiment regarding a rate cut in September is somewhat pessimistic. If tonight's speech is dovish, the market will reopen the upward trend; if it is hawkish, the market will reopen the downward adjustment mode.

Bitcoin is still undergoing adjustments on the 4-hour level, searching for bottom support levels. Currently, there are no effective support signals observed, and the market is waiting for Powell's speech. Therefore, everyone should be cautious of risks, as there may be significant fluctuations during Powell's speech.