Odaily Planet Daily reported that at 00:20 on Wednesday morning Beijing time, Federal Reserve Chairman Powell will deliver a speech at an event hosted by the National Association for Business Economics on the topic of "Economic Outlook and Monetary Policy."

The speech comes amidst significant volatility in global markets, driven by renewed trade tensions and a sharp correction in the digital asset market. Powell's remarks could influence market expectations regarding the pace of interest rate cuts and overall monetary policy, determining whether the current downward trend in the cryptocurrency market will deepen or stabilize.

Analysts believe that Powell's upcoming speech will be key to market direction, and investors are closely watching whether he will release clues about the timing and magnitude of interest rate cuts.

The market generally expects the Federal Reserve to cut interest rates by 25 basis points in October and December, with the futures market pricing in probabilities of 97% and 89% respectively.