Analysis: Crypto Market Maintains Cautious Stance Ahead of Fed Chair Powell’s Speech

According to ChainCatcher, citing a CoinDesk report, the market remains cautiously positioned ahead of Federal Reserve Chair Jerome Powell’s Jackson Hole speech, with Bitcoin holding the key support level of $112,500.

Speculative activity appears to have cooled off, as traders await Powell’s remarks, and options data suggests that the prices of Bitcoin and Ether may experience volatility.

If Powell signals a more dovish stance from the Federal Reserve, indicating faster or larger rate cuts, the market could see a similar reaction.

Currently, the market expects the Fed to cut rates by 25 basis points in September and to lower rates again before the end of the year.