Foreign media reports that before Federal Reserve Chairman Kevin Warsh delivered his first speech at the Jackson Hole Symposium, the crypto market remained on the sidelines. The article suggests that this speech could become an important catalyst for the short-term direction of Bitcoin, Ethereum, and XRP. Market attention is focused on interest rates, liquidity, and the trend of the US dollar.
The market is waiting for the speech to take effect.
As of press time, Bitcoin was reported at $79,619.04, Ethereum at $2,504.89, and XRP at $1.42. In the past 7 days, Solana has seen a relatively larger increase, and both BNB and Ethereum have also recorded gains, indicating that risk appetite did not significantly cool down before the speech.
The article states that the Jackson Hole Symposium has always been regarded as an important occasion for the Federal Reserve to send policy signals. Historically, changes in the chairman's statements have often triggered rapid market fluctuations. It is mentioned in the text that after Powell's hawkish remarks in 2022, the market experienced a significant decline, while a more optimistic stance in 2025 led to an increase in crypto asset prices on that day.
Two paths: hawk and dove
The article argues that if Warsh emphasizes inflation risks in his speech, hints that interest rate hikes may still occur in September, or explicitly opposes the financial sector from influencing monetary policy, the market might interpret this as a hawkish signal. Such a stance usually implies tighter liquidity, a stronger dollar, and increased pressure on risky assets.
In this scenario, market views cited in the text suggest that Bitcoin may retest support around $75,500, and Ethereum as well as XRP may also weaken simultaneously.
Conversely, if Warsh sends a more moderate signal, such as showing cooperation with the Treasury's bond repurchase arrangements, mentioning the support that AI investment provides to the economy, or adopting a more open stance towards stablecoins and digital assets, the market reaction could turn positive.
The article states that if the US dollar weakens and liquidity expectations improve, Bitcoin has a chance to test the resistance around $83,000, and Ethereum and XRP may also continue their recent upward trend.
Why is the market particularly sensitive?
The article reviews that several public statements made by Warsh after taking on the position of Federal Reserve Chairman have repeatedly influenced crypto market expectations.
- In June 2026, market volatility increased after the forward guidance was discontinued.
- In April 2026, after the hearing was confirmed, Bitcoin fell below $75,000.
- In July 2026, statements indicating a mitigation of inflation risks drove a rebound in Bitcoin prices.
The article argues that since Warsh does not tend to provide traditional forward-looking guidance, there is more room for interpretation of its wording by the market. This also means that in the hours following the speech, Bitcoin, Ethereum, XRP, and other altcoins may experience more significant fluctuations.
