Tonight at 10 PM, the speech by Federal Reserve Chairman Powell is definitely the main event. His remarks can shift the macro policy direction, causing global funds to tremble! This old gentleman's words are not to be taken lightly; even a slight deviation in macro policy direction can lead global funds to adjust dramatically, as if being guided by a conductor.

If he opens his mouth and takes a 'hawkish' stance, indicating a continuation of tightening policies and interest rate hikes, the short-term market will definitely suffer. Funds are likely to dive into conservative assets like startled birds, and cryptocurrency is probably going to get doused with cold water: Ethereum should be wary of whether the support level at 4214 can hold; if not, it may need to test lower levels; Bitcoin should also keep a close eye on the area around 110800, lest it actually breaks through the psychological barrier.

But if Powell loosens up and adopts a 'dovish' tone, suggesting policy stability or even hinting at easing, then things will get exciting! Ethereum could surge past 4430 on this momentum, and it might even touch the psychological level of 4500; Bitcoin could once again attempt to break through the 120,000 mark, and the entire crypto circle might collectively take off, with bulls likely preparing their celebratory champagne in advance.

Honestly, tonight's volatility will definitely be significant. Historical data shows that during central bank annual meetings, Ethereum's volatility often exceeds ±5%, rising sharply and falling even more drastically. Originally, this Friday was already prone to 'black swan' events, but given tonight’s atmosphere, it seems we are destined to confirm a 'Black Friday' filled with bloodshed and fierce battles.

In summary, don’t waste time staying up late to binge-watch shows tonight; setting an alarm to monitor the market is the serious business. The market may be like a roller coaster, bouncing up and down. For those holding positions, remember to set stop losses in advance, and for those who haven’t entered the market yet, don’t rush into impulsive actions. Wait until Powell clarifies his stance before making any moves—at such a critical juncture, staying calm is more important than anything!