The market is reacting to Powell's statement that "it may be time for us to adjust policy stance"
$BTC
The market interpreted it as dovish:
• Acknowledged that rates are already in restrictive territory
• Indicated a "cautious" adjustment to policy
• Left room for future easing
Powell stated: "The stabilization in the unemployment rate and other labor market indicators allows us to proceed carefully as we consider adjustments to our policy stance. Nonetheless, with policy in restrictive territory, the baseline outlook and evolving risk balance may suggest it is time for us to adjust policy stance."
$ETH
The market interpreted it as dovish:
• Acknowledged that rates are already in restrictive territory