Everyone is waiting for Old Powell's speech at ten o'clock. Now both bulls and bears are hesitant to take action, and mainstream coins like $BTC $ETH are sluggish throughout the day.

Currently, there is significant internal debate in the U.S. regarding interest rate cuts. One can hardly imagine what would happen to the crypto market if the U.S. fails to cut rates in September.

It is estimated that Powell will not send any clear signals to the market, continuing the Fed's usual strategy: Guess whether I will cut rates or not?