The crypto market is holding its breath waiting for the Fed chair's speech at Jackson Hole.

Jerome Powell is preparing for his final speech at the Jackson Hole Conference, and global traders are awaiting signals regarding cutting down the whales, inflation, and the future policy direction of the Fed – factors that could have a significant impact on the crypto market.

This speech takes place in a tense context: inflation remains persistent, employment data is weakening, and political pressure is increasing. The message from the Fed Chair not only affects traditional markets but can also shake risk assets like Bitcoin and Ethereum.

Analysts predict that Powell will hint at the possibility of cutting interest rates in September, but his tone will be the deciding factor. If he signals a "dove" stance, investors may feel more at ease, leading to a strong rally in the stock and crypto markets. Conversely, if Powell maintains a cautious stance or continues to be tough on inflation, volatility could return quickly.

In addition to short-term factors, Powell is also expected to defend the independence of the Fed amid escalating political attacks. Any mention of changes to the long-term policy framework will shape his legacy after leaving office.

For the crypto trading community, this is the time to "sit and wait for signals." If Powell paves the way for easing conditions, Bitcoin and other digital assets may benefit from a resurgence in risk acceptance. Conversely, if instability prevails, the current low volatility phase could give way to strong reversals.