If Jerome Powell Signals Rate Cuts On Friday, What Does That Mean For Crypto?
If Jerome Powell Signals Rate Cuts On Friday, What Does That Mean For Crypto?
After more than two and a half years of aggressive monetary tightening, U.S. Federal Reserve Chairman Jerome Powell is widely expected to indicate an impending shift towards easing monetary policy.
在进行了两年半的激烈货币紧缩之后，美联储主席杰罗姆·鲍威尔被普遍预计会表明货币政策即将转向宽松。
What Happened: Powell's highly anticipated keynote address at the Kansas City Fed's Jackson Hole Economic Symposium is scheduled for Friday at 10 a.m. ET, and this event has historically been used by Fed chairs, including Powell, to signal significant changes in central bank policy, Coindesk reported.
鲍威尔备受期待的主题演讲定于周五上午10点在堪萨斯城联邦储备银行的杰克逊霍尔经济研讨会上发表，这一事件在历史上常被联邦储备银行主席，包括鲍威尔在内，用来暗示中央银行政策的重大变化，Coindesk报道。
Market participants have been preparing for this shift for some time, with traders already pricing in a 100% probability of at least a 25 basis point rate cut at the Fed's upcoming September meeting.
市场参与者已经为这种转变做好了一段时间的准备，交易员已经在美联储即将召开的9月会议上至少降息25个基点的概率定价为100%。
This sentiment was further reinforced by the release of the FOMC minutes from the Fed's July policy meeting, which revealed that a "vast majority" of participants believe a rate cut in September is "likely appropriate."
这种情绪进一步得到了加强，因为从美联储7月政策会议的FOMC会议纪要中可以看出，"绝大多数"与会者认为9月降息"很可能是适当的。"
Analysts expect Powell to not only confirm the September rate cut but also to adopt a cautious stance on further easing.
分析师们预计鲍威尔不仅会确认9月份的降息，还会采取一种谨慎的态度来进一步宽松。
This could mean that the Fed might reduce rates by just 25 basis points in September and signal to markets that a continuous series of cuts should not be anticipated in the near future.
这意味着美联储可能仅在9月份降息25个基点，并向市场暗示不应预期在不久的将来会出现一系列连续的降息。
In the lead-up to this anticipated easing cycle, U.S. financial markets have largely remained buoyant.
在这一预期的宽松周期前，美国金融市场基本保持平稳。
Despite a brief dip from mid-July to early August, the S&P 500 is currently trading only about 1% below its all-time high reached in early July, while the Nasdaq is approximately 4% off its peak.
尽管从7月中旬到8月初出现了短暂下跌，标普500指数目前仅较其7月初创下的历史新高低约1%，而纳斯达克指数大约下跌了4%。
Gold has also seen a surge, hitting a record high of $2,566 earlier this week.
黄金价格也出现了上涨，本周早些时候曾创下2566美元的历史新高。
The bond market is similarly optimistic, with the yield on the 10-year U.S. Treasury dropping to a multi-year low of 3.77%.
债券市场也持乐观态度，美国10年期国债收益率下跌至3.77％的多年低点。
Why It Matters: However, Bitcoin (CRYPTO: BTC) has been struggling to gain traction.
为什么这很重要：然而，比特币（CRYPTO: BTC）一直在努力获得动力。
Although it has recovered from the early August sell-off that briefly pushed prices below $50,000, Bitcoin remains significantly below its all-time high of around $73,500, reached back in March.
尽管比特币已经从8月初的抛售中恢复过来，价格曾暂时跌破50000美元，但仍远低于其历史最高点约73500美元，该高点是在今年3月达到的。
This lackluster performance is notable given other positive factors in the crypto space, including rising institutional interest and continued inflows into spot ETFs.
考虑到加密货币领域的其他积极因素，包括日益增长的机构兴趣和持续流入现货ETF，比特币的表现不佳值得关注。
Moreover, Bitcoin could benefit from recent developments on the regulatory front.
此外，比特币可能会受益于监管方面的最新发展。
According to an ABC News report, crypto-friendly Robert F. Kennedy Jr. is considering withdrawing from the presidential race on Friday and endorsing GOP candidate Donald Trump, who is also known for his favorable stance towards cryptocurrencies.
根据ABC新闻的报道，亲加密货币的罗伯特·F·肯尼迪小姐在考虑于周五退出总统竞选并支持共和党候选人特朗普，后者也因对加密货币持有积极立场而著名。
On the Democratic side, a senior official from Kamala Harris's campaign hinted that a Harris administration would be more supportive of the crypto industry than the current Biden administration.
在民主党方面，Kamala Harris的竞选团队一名高级官员暗示，Harris政府将比现任拜登政府更支持加密货币行业。