Powell's Speech Calms Crypto Market
Fed Chair Jerome Powell's speech at the 67th Annual Meeting of the National Association for Business Economics (NABE) signaled a potential slowdown in the Fed's balance-sheet runoff.
Investors are awaiting clarity on inflation and the next CPI release. Powell hinted that the central bank could soon slow its balance-sheet runoff, which may ease liquidity pressure and boost crypto assets like Bitcoin and Ethereum.
The central bank may soon slow its balance-sheet runoff, a move that hints at easing liquidity pressure.
- The total crypto market cap remains near $3.84 trillion.
- Bitcoin and Ethereum experienced brief rebounds after Powell's speech.
Overall sentiment in the crypto market remains muted. The speech took a technical tone, focusing on the Fed's balance-sheet strategy rather than new policy surprises.
Author's summary: Powell's speech calms crypto market.