According to insights reported by COINOTAG News on April 16th, Federal Reserve Chairman Jerome Powell is anticipated to provide crucial guidance on U.S. monetary policy during his speech at the Chicago Economic Club today. Recently, Federal Reserve Governor Christopher Waller suggested that reinstating a significant high tariff strategy could prompt the Fed to contemplate interest rate reductions. Market analysts, including CoinPanel’s Senior Automation Expert Kirill Kretov, emphasize that market volatility will persist amid prevailing uncertainties regarding macroeconomic conditions. Kretov remarked that current price fluctuations are more reflective of emotional reactions rather than fundamental or technical indicators, highlighting an environment fraught with geopolitical tensions and economic vulnerabilities.
Similarly, Paul Wincent, Senior Director at Wincent, noted that the short-term trajectory remains stable without significant bearish signals influencing the market. Excluding macroeconomic variables, cryptocurrencies are consolidating within a defined range this week. Coin Bureau’s Founder, Puckrin, expressed optimism regarding Bitcoin’s slight pullback, characterizing a retest of the $81,000 support level as potentially constructive. He cautioned, however, that unexpected announcements from political leaders could disrupt market stability, reiterating the importance of keeping a close watch on external influences.