#PowellRemarks :-Federal Reserve Chair Jerome Powell's recent remarks have significantly impacted the cryptocurrency market. According to Powell, the labor market has weakened, with rising layoffs and slowing hiring. This suggests the Fed might shift its focus from fighting inflation to supporting employment, potentially leading to rate cuts. Traders are betting on 25 basis point cuts in both October and December. Powell's cautious tone indicates the Fed is preparing for economic turbulence while balancing inflation concerns. The market expects further rate cuts, which could boost liquidity and benefit risk assets like cryptocurrencies ¹.