Powell's FOMC Speech Could Shake Bitcoin & Ethereum Prices Today

Today’s FOMC meeting is more than routine—it might shape the near-term direction of crypto markets. The Federal Reserve is widely expected to keep interest rates unchanged at 4.25%–4.50%, with the CME FedWatch Tool assigning a 97.9% probability to this outcome.

But the drama escalates with former President Donald Trump pressuring Fed Chair Jerome Powell to cut rates or resign, a move that could add volatility to the markets.

While inflation is cooling at 2.7%, still above the Fed’s 2% goal, the rate pause seems logical. However, crypto traders are watching Powell’s speech closely. If he signals a dovish stance—hinting at rate cuts in September—Bitcoin and Ethereum could surge.

Conversely, a hawkish tone, suggesting delayed cuts or no cuts at all, may cause BTC to drop 5–10%. Currently, Bitcoin is trading between $115K and $118K, but that range could break swiftly based on Powell’s words.

Adding to the suspense, the President’s Working Group on Digital Assets is set to release a key crypto policy report today. If it's favorable, ETH and BTC could see further upside.

With speculation mounting that this could be Powell’s final major decision, today's event could leave a significant mark on crypto’s short-term future.