How Powell Speech Today Is Driving Crypto Market Downtrend Analysis

Jerome Powell speech today at the Greater Providence Chamber of Commerce, reflected on inflation and the job shift, which has left the crypto market downtrend.

After his speech, Bitcoin's price dropped by 1%, which shows that the industry is reacting to this news. Not only BTC, but altcoins are also facing a slight crash.

Source: The Wolf Of All Streets X Account

In this article, we will break down Jerome Powell’s speech today crypto impact and downtrend analysis will help you understand what’s going on and what might happen next.

Key Takeaways From Jerome Powell Speech Today

1. Job-Market Risks Triggered September’s Rate Cut: He explained that the reason for cutting interest rates in September was to protect jobs.

2. Fed Neutral Policy: Fed’s policy is now neutral, meaning they won’t make big changes to the interest rates for the time being.

3. Inflation Outlook Still Uncertain: He also said that inflation is still hard to predict. Some prices are going up because of tariffs (taxes on imported goods). So, it’s still not clear what will happen to inflation, and this uncertainty is making investors nervous.

Crypto Market Downtrend Analysis After Today’s Powell Speech

His speech has caused the currencies to pause. The Federal Reserve is now in a neutral position, and this has led to a more cautious approach in the cryptocurrency world.

Bitcoin and altcoins like Ethereum are facing correction, but for how long let’s understand

Bitcoin Crash Analysis: Consolidating After Strong Run

It has been crashing recently, but right now it’s moving sideways, between $112,000 and $113,000. After Powell’s speech today, it dropped a bit by 1%.

This dip is normal, as marketplace sometimes take a break after big moves. The crypto market downtrend analysis shows that the asset is in a wait-and-see situation, waiting for the next move.

Key Levels to Watch:

• Support: Between $108,000 and $110,000. If the price goes below this level, it could drop even further.

• Resistance: The next level to watch is $117,000. If the token breaks above this, then BTC price prediction $125k can be achievable.

Ethereum Price Drop or Healthy Correction ?

Ethereum price has also gone down a little, from its recent high of $4,200 to about $4,150. This ETH drop is part of the normal, however, as per my analysis being a cryptocurrency expert, this chart shows that it might still be correcting itself.

Key Levels to Watch:

• Support: The key support level is around $4,150. If the price goes lower than this, it could face a bigger drop.

• Resistance: The next resistance level is $4,200

• Its RSI has dropped below 40, which means the momentum is weak.

So in the analysis of crypto market sudden downtrend, it is very clear than btc and altcoins might continue face short term corrections, but in the long run both the assets hold strong chart backup.

Crypto Marketplace Sentiment: Fear Creeps In

The Crypto Fear and Greed Index has dropped to 43 after Jerome powell speech today, which means the space is feeling more fearful. It’s not in the “Extreme Fear” zone yet, but it’s a sign that investors are cautious.

Conclusion: Powell Speech Broader Impact on Cryptocurrency Market

Jerome Powell speech today has triggered short term voilatility. Bitcoin crash and Ethereum are both testing important levels, and the industry is waiting for more signals to decide which way to go.

The crypto market downtrend analysis shows that the investors is in a phase of uncertainty right now. However, as long as key support levels hold, there is still hope for the marketplace to recover.

The industry is always changing, and it’s important to understand what’s going on to make the right moves, so always do your own research before investing in any cryptocurrency.