As Powell is about to speak, the market has shown a certain expected volatility. Judging from the current market conditions, Bitcoin seems to be seeking stability in the range of 59,500 to 61,500, while Ethereum fluctuates in its range of 2,570 to 2,680, showing a certain volatility. As for SOL, its trend remains in a narrow range of 140 to 146, further confirming the cautious sentiment of the market.
In response to Powell's speech, the market generally expects that the rate cut may not be as large as some investors expect, and the frequency of rate cuts may also be lower than the three times predicted by the market. This expectation has been reflected in risky assets such as US stocks in advance, showing an accelerated decline. This phenomenon reveals the market's early digestion of expectations for rate cuts, as well as the sensitivity and uncertainty of the future direction of monetary policy.
Focus: Powell's speech tonight is right. He needs to clearly convey the message that the rate cut will be larger or more frequent this year to reignite the market's bullish sentiment. If Powell's remarks fail to meet this expectation of the market, it is likely to be regarded as bad news.
