$BTC $ETH Powell's speech sets the tone of 'wait-and-see' stance, cryptocurrency market reacts calmly
In the early hours today, Federal Reserve Chairman Powell delivered a policy speech, the core content of which can be summarized in three key points:
Policy stance is neutral and somewhat cautious
Maintains the expectation of a 50 basis point rate cut in 2024
Neither released a stronger dovish signal nor shifted to an aggressive hawkish stance
Emphasizes a data-dependent approach, ruling out preset policy paths
Clarifies two major observation windows
① Key date on July 9
The expiration of the tariff suspension on China during the Trump administration
Need to observe the trade policy direction of the Biden administration
② Geopolitical risks
Focus on the evolution of the U.S.-Israel-Iran triangle relationship
Assessing the potential impact of the Middle East situation on the U.S. economy
Analysis of the impact on the cryptocurrency market
The market has fully priced in existing expectations
Lack of breakthrough catalysts in the short term
Advice for investors:
Pay attention to the two major policy observation points above
Maintain moderate position flexibility
Avoid overinterpreting technical fluctuations
The current market has entered a policy observation period, and investors are advised to focus on the key time window in early July, while closely monitoring the impact path of the evolving Middle East situation on risk assets.
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