PANews reported on August 22nd that, according to The Block, major cryptocurrencies like Bitcoin and Ethereum saw slight price drops ahead of Federal Reserve Chairman Jerome Powell's upcoming speech in Jackson Hole. Bitcoin fell 0.74% to $113,018 over the past 24 hours, while Ethereum dropped 0.1% to $4,284. Analysts predict that if Powell's remarks are hawkish, the market could turn risk-averse, potentially sending Bitcoin prices plummeting by up to 30%. While the market generally expects the Fed to cut interest rates in September, some policymakers are concerned about stubborn inflation, and recent economic data has tempered expectations of a rate cut.

Powell's speech is titled "Economic Outlook and Framework Review," suggesting he will spend time outlining his macroeconomic outlook and discussing the Fed's long-term policy goals , a review conducted every five years. While the majority of the meeting will not be broadcast live, approximately five Fed officials are expected to give media interviews on August 22nd, providing a crucial source of policy information for the market. Additionally, at 12:25 AM on Sunday, European Central Bank President Christine Lagarde, Bank of England Governor Andrew Bailey, and Bank of Japan Governor Kazuo Ueda will participate in a panel discussion on the "Policy Implications of Labor Market Transitions." It's worth noting that historically, interviews with central bank officials often provide better insights into near-term policy direction than academic discussions.