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.
在進行了兩年半的激烈貨幣緊縮之後，聯儲局主席傑羅姆·鮑威爾被普遍預計會表明貨幣政策即將轉向寬鬆。
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.
鮑威爾備受期待的主題演講定於週五上午10點在堪薩斯城聯邦儲備銀行的傑克遜霍爾經濟研討會上發表，這一事件在歷史上常被聯邦儲備銀行主席，包括鮑威爾在內，用來暗示中央銀行政策的重大變化，Coindesk報道。
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.
市場參與者已經爲這種轉變做好了一段時間的準備，交易員已經在聯儲局即將召開的9月會議上至少減息25個點子的概率定價爲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."
這種情緒進一步得到了加強，因爲從聯儲局7月政策會議的FOMC會議紀要中可以看出，"絕大多數"與會者認爲9月減息"很可能是適當的。"
Analysts expect Powell to not only confirm the September rate cut but also to adopt a cautious stance on further easing.
分析師們預計鮑威爾不僅會確認9月份的減息，還會採取一種謹慎的態度來進一步寬鬆。
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.
這意味着聯儲局可能僅在9月份減息25個點子，並向市場暗示不應預期在不久的將來會出現一系列連續的減息。
In the lead-up to this anticipated easing cycle, U.S. financial markets have largely remained buoyant.
在這一預期的寬鬆週期前，美國金融市場基本保持平穩。
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.
儘管從7月中旬到8月初出現了短暫下跌，標普500指數目前僅較其7月初創下的歷史新高低約1%，而納斯達克指數大約下跌了4%。
Gold has also seen a surge, hitting a record high of $2,566 earlier this week.
黃金價格也出現了上漲，本週早些時候曾創下2566美元的歷史新高。
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%.
債券市場也持樂觀態度，美國10年期國債收益率下跌至3.77％的多年低點。
Why It Matters: However, Bitcoin (CRYPTO: BTC) has been struggling to gain traction.
爲什麼這很重要：然而，比特幣（CRYPTO: BTC）一直在努力獲得動力。
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.
儘管比特幣已經從8月初的拋售中恢復過來，價格曾暫時跌破50000美元，但仍遠低於其歷史最高點約73500美元，該高點是在今年3月達到的。
This lackluster performance is notable given other positive factors in the crypto space, including rising institutional interest and continued inflows into spot ETFs.
考慮到加密貨幣領域的其他積極因素，包括日益增長的機構興趣和持續流入現貨ETF，比特幣的表現不佳值得關注。
Moreover, Bitcoin could benefit from recent developments on the regulatory front.
此外，比特幣可能會受益於監管方面的最新發展。
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.
根據ABC新聞的報道，親加密貨幣的羅伯特·F·肯尼迪小姐在考慮於週五退出總統競選並支持共和黨候選人特朗普，後者也因對加密貨幣持有積極立場而著名。
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.
在民主黨方面，Kamala Harris的競選團隊一名高級官員暗示，Harris政府將比現任拜登政府更支持加密貨幣行業。