Powell's Speech Calms Crypto Market
Federal Reserve Chair Jerome Powell's speech at the National Association for Business Economics (NABE) signaled a potential slowdown in the Fed's balance-sheet runoff.
The central bank may soon slow its balance-sheet runoff, a move that hints at easing liquidity pressure.
Investors are awaiting clarity on inflation and the next Consumer Price Index (CPI) release. Following Powell's speech, Bitcoin and Ethereum experienced brief rebounds, but overall sentiment remained muted, with the total crypto market capitalization near $3.84 trillion.
- The speech was given at the 67th Annual Meeting of NABE in Philadelphia, Pennsylvania.
- Powell's tone was technical and cautious, focusing on the Fed's balance-sheet strategy.
The potential slowdown in balance-sheet runoff could boost crypto assets like Bitcoin and Ethereum, but crypto markets remain subdued, with a total market capitalization of $3 trillion.
Author's summary: Powell's speech steadies crypto market.
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