📰 Summary of Powell's Speech Today and Its Impact on the Crypto Market
The Chairman of the U.S. Federal Reserve, Powell, delivered a speech today during the community banking conference in Rhode Island, focusing on the role of small and community banks in supporting the U.S. economy, without directly addressing interest rates or inflation.
🎯 What this means for the markets:
The absence of any new guidance from Powell made the speech neutral in its impact on the markets. There were no signs of tightening or easing monetary policy, leading investors to wait for the upcoming Federal meeting in November to gauge the true direction.
💹 Its impact on crypto:
Due to the lack of a hawkish tone, Bitcoin remained above $120,000 with clear stability in major cryptocurrencies. Markets are currently moving cautiously, awaiting upcoming economic data.
✳️ Summary:
Powell's speech today did not present anything new regarding interest rates or inflation, which made it calm and neutral in its impact on the market.
Eyes are now on the upcoming U.S. data to determine the next step for the Federal Reserve and the crypto market.
✨ What do you think?
Do you see Powell's silence today as a signal of waiting before a strong market move, or is it a confirmation of stable monetary policy? 🤔
Share your analysis in the comments 👇
📊 And stay tuned for upcoming data to see where the crypto market will head after this temporary calm! 🚀💬
