Currently, there is a lot of capital in the market betting on a rate cut in December (the rate cut probability on Polymarket is now as high as 94%+).
So before the actual rate cut happens, the overall market sentiment is bullish, and everyone is betting on expectations.
If there is indeed a rate cut in December, then the subsequent market movement will depend on whether Powell's speech is hawkish or dovish, and the market will follow his tone for the next phase.
However, if there is no rate cut, it would be a significant disappointment for the market, and short-term volatility will be substantial.$BTC #美联储重启降息步伐
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