Recently, the Fed's interest rate meeting held in the early morning has attracted widespread follow from the market. Although the interest rate decision met expectations, Chairman Powell's speech revealed a hawkish tendency, catching market participants off guard.

Powell pointed out that the current inflationary pressures are likely stemming from the impact of tariff policies. He emphasized that before the full effects of the tariff policies have fully manifested, the Fed is unlikely to consider lowering the interest rate in September. This statement led to a brief decline in the market.

In the cryptocurrency market, Bitcoin (BTC) briefly dipped to $115,700, while Ethereum (ETH) reached a low of $3,670. It is worth noting that these prices did not break through the previously expected support levels. Subsequently, the market quickly rebounded and returned to the oscillation range.

Despite the market fluctuations, strong capital is still supporting prices, demonstrating the resilience of the market. However, breaking through new highs may require more positive catalysts. Without significant good news, the market may continue to oscillate within the current range.

From the market performance in the early morning, it seems that some large funds are also waiting for further news. According to Powell's latest statement, if the tariff policy can be implemented smoothly, there may be a possibility of a rate cut in September. This undoubtedly brings a glimmer of hope to the market.

Overall, the market is at a delicate balance point. Investors need to closely follow the Fed's policy direction and the changes in the global economic situation, as these factors could have a significant impact on the cryptocurrency market.