At 22:00 tonight, Fed Chairman Powell will deliver an important speech, which could become a key turning point for the financial markets in August. The trends in the Crypto Assets market are likely to be profoundly influenced by this speech.

Powell is currently facing a tricky situation: on one hand, he needs to control inflation, while on the other hand, he must maintain stability in the job market. Although the pace of job growth has slowed, it still remains healthy overall. Therefore, Powell is likely to stick to his current monetary policy stance and not easily cut interest rates.

Bitcoin and Ethereum are currently at critical price levels. It is crucial for Bitcoin to hold the $110,000 mark. If it falls below this level, the outlook for other Crypto Assets may be even more pessimistic. Investors should closely monitor the two important support levels of $107,000 and $105,000.

For Ethereum, if there is a pullback to around $4000, it could present a good buying opportunity. However, investors should remain cautious and avoid excessive panic or blindly chasing after price increases. Although the overall trend of interest rate cuts may not change, the market may experience a pullback or significant volatility after the policy is implemented, after which a new round of increases may start.

Advice for investors:
1. If you already have positions, do not easily liquidate them; keep some funds to respond to potential bottom-fishing opportunities.
2. If you have not entered yet, do not rush to chase the highs; it may be more prudent to wait for a clear signal of a market decline before considering entry.

Regardless, tonight's speech is worth close attention, as it may have a significant impact on short-term market trends.