The key remarks made by Federal Reserve Chairman Powell at a recent press conference have triggered significant volatility in the financial markets. He admitted that there are major disagreements within the committee regarding whether to cut interest rates in December and emphasized that this is by no means a done deal; this statement quickly became a catalyst for market turmoil.

Prior to this, investors generally believed that the Federal Reserve would continue to implement a loose monetary policy, but Powell's surprising shift in speech broke the existing expectations in the market. From the data, the market's expected probability of the Federal Reserve cutting interest rates in December plummeted from the original 92% to 70%, leading to a dramatic change in investment sentiment.

This sudden change has triggered significant fluctuations in asset prices: the US stock market subsequently fell, US Treasury yields rose sharply, the US dollar index rebounded strongly, and market risk aversion sentiment noticeably increased. The cryptocurrency market was also not spared, with major cryptocurrencies such as Bitcoin and Ethereum experiencing notable declines, and the overall performance of risk assets weakened.

Looking ahead to future market trends, the focus of analysis has shifted from economic indicator performance to the dynamics of capital flows. If the US dollar continues to remain strong, the cryptocurrency market may face a period of emotional adjustment and price cooling.