#鲍威尔发言 Powell's speech on the impact of interest rate cuts hinges on two key points:

1. **Hawkish-Dovish Signals**: If emphasizing persistent inflation or an overheating economy, it will release a **delayed interest rate cut** signal, which will suppress risk assets (including cryptocurrencies);

2. **Expectation Management**: Suggesting a "higher for longer" interest rate stance may **boost the dollar**, weakening the appeal of alternative assets like Bitcoin;

3. **Economic Assessment**: If concerns about recession risks escalate, it may bring forward interest rate cut expectations, **stimulating a rebound in the crypto market**.

**Caution**: The market is prone to overinterpret a single speech, and it is necessary to analyze subsequent economic data for a comprehensive judgment.