What to Expect from Jerome Powell’s Speech Today
All eyes are on Federal Reserve Chair Jerome Powell’s speech today, as he is set to speak at 12:35 PM ET at the Greater Providence Chamber of Commerce. Investors and crypto traders are watching closely to see whether Powell signals more interest rate cuts or maintains a cautious outlook.
After the Fed’s recent 0.25% rate cut, Powell is expected to emphasize a data-driven approach for future rate decisions, noting weak job numbers and elevated inflation.
Analysts expect a cautiously dovish tone, suggesting that more rate cuts could happen if inflation eases and jobs data weaken. Markets have already started to react ahead of Powell’s speech today, creating short-term volatility in both traditional and crypto markets.
Will Bitcoin and Altcoins Surge or Dump After Powell Speech?
Bitcoin Price Prediction
The Bitcoin price reaction to Powell’s speech today is already evident. BTC bounced from a strong support around 111.4K and is now testing the 113.1K resistance level.
If Powell signals further rate cuts or a dovish outlook, Bitcoin could surge toward 114K–115.5K, while a neutral or cautious tone may push prices back toward 111.4K or lower, leading to short-term volatility.
Traders are keeping a close watch on these levels to anticipate market moves immediately after the speech.
Altcoin Market Outlook
The altcoin market cap excluding BTC and ETH is currently testing a key trendline. If this support holds, altcoins could rebound and attempt a run toward their $1.16T all-time high
However, if the trendline breaks, altcoins may drop to the $920B–$960B range, creating potential selling pressure across the market.
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