Jerome Powell’s Speech Today: How Bitcoin and Altcoins Are Positioning for a Potential Fed Rate Cut

Jakarta, Pintu News – The crypto market is expected to experience a volatile week as a number of major economic events take place in the United States, increasing uncertainty among investors. Crypto price movements in the next few days could be an indicator of whether the market will experience a deeper correction or prepare for a bullish run.

The series of key events begins on January 28 with a speech from Federal Reserve Chairman, Jerome Powell. Furthermore, on January 29, initial jobless claims data in the US will be released.

The week comes to a close on January 30 with the release of US Producer Price Index (PPI) inflation data and rumors regarding a potential US government shutdown. Both of these factors have the potential to have a major impact on the crypto market.

Jerome Powell’s Speech and Its Impact on the Crypto Market

Historically, US government shutdowns have had a negative impact on crypto markets. During the previous shutdown, Bitcoin prices fell sharply, raising concerns that a similar selling pressure could occur again if uncertainty increases.

Read also: Crypto Market Surges Up Ahead of Today’s FOMC Meeting, Why?

At the same time, markets expect the Federal Open Market Committee (FOMC) to keep interest rates unchanged. While this outcome is largely priced into the market, investor reaction will depend on the tone of Jerome Powell’s speech.

A “hawkish” tone (favoring tight monetary policy) could trigger a massive sell-off, while hints of future rate cuts could support bullish movements in the crypto market.

Bitcoin Price Predictions Ahead of Today’s FOMC Meeting

Bitcoin has been moving in a parallel price channel since November, but has recently dropped below key support levels, raising new concerns about a possible trend change. This move could be a false dip aimed at shaking out highly leveraged long positions, or the start of a longer bearish phase.

For now, as long as Bitcoin is trading below the $92,000 level, its price is considered to be in a high-risk zone. The technical chart shows a potential drop to the $85,000-$86,000 area, with stronger weekly support in the $75,000-$77,000 range.

If the price of BTC fails to break the price channel resistance again, the market may experience a deeper correction in the next two to three weeks.

Read also: Donald Trump Hints at Announcing New Fed Chair Soon and Promises Interest Rate Cuts!

Pressure on Ethereum and Altcoins

Ethereum price is also under pressure and struggling to maintain support from its price channel. On the weekly chart, ETH is still stuck below the important resistance level of $3,000.

If this limit continues to hold, the downside risk towards $2,700 grows, with additional support expected in the $2,300-$2,700 range.

If ETH drops below $2,700 significantly, the decline could continue until the $2,261 zone.

The altcoin market in general appears more fragile. The Total3 market capitalization index-which tracks crypto assets other than Bitcoin and Ethereum-has broken its channel support.

If the $788 billion level is unable to hold, the next major support is around $686 billion, which signals the possibility of more selling pressure against small-cap tokens.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Jerome Powell Speech Today: Bitcoin and Altcoins Brace for Fed Interest Rate Cuts. Accessed on January 28, 2026