Tonight, Fed Chairman Powell will deliver an important speech, and the market generally expects that this statement may trigger greater fluctuations in the US stock market. Some analysts point out that the Fed's balance sheet may expand to a scale of 15 to 25 trillion dollars. However, there is still uncertainty in the market regarding the possibility of future interest rate cuts.

The focus of this speech is mainly on two aspects: first, whether Powell will directly respond to former President Trump's criticism of him personally; second, whether his tone will show a "shift towards dovish" or a "more neutral ambiguity" tendency. These factors will directly affect the market's expectations for the direction of monetary policy in the coming months.

It is worth noting that if Powell indicates "continuing to maintain high interest rate levels," or even mentions the possibility of "considering further interest rate hikes," the US dollar is likely to strengthen, while the gold and cryptocurrency markets may face pressure.

In addition, the market is also paying attention to the progress of the stablecoin-related legislation, as well as the performance of mainstream cryptocurrencies such as Ethereum, Solana, and Binance Coin. As Powell's speech approaches, investors are closely monitoring this important statement that could impact the global financial markets.