Federal Reserve Chairman Powell's speech will directly impact the short-term trends in the cryptocurrency market. If dovish signals are released (such as hinting at interest rate cuts or slowing down balance sheet reduction), it could drive up cryptocurrencies like BTC and ETH by 5% to 10%, along with altcoins following suit. If the statement is neutral, the market may experience significant fluctuations before returning to technical levels. However, if it is unexpectedly hawkish (emphasizing the possibility of interest rate hikes and suppressing expectations for rate cuts), there may be panic selling in the crypto market, with BTC potentially falling below the $60,000 support level. Historically, Powell's statements have often caused significant volatility in the crypto market (for example, after dovish remarks in December 2023, BTC rose 7% in a single day, while hawkish statements in August 2022 led to a 20% drop in a single week). It is recommended that short-term traders reduce leverage and avoid high-volatility periods, while medium to long-term investors can look for opportunities arising from shifts in policy cycles. Altcoins may exhibit even greater volatility due to liquidity risks. Key indicators include the US Dollar Index (DXY), CME interest rate cut probabilities, and the movements of on-chain whales. Overall, Powell's speech serves as a short-term sentiment catalyst, but the medium to long-term trends in the crypto market still depend on the halving cycle, institutional funds (ETFs), and regulatory dynamics.