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Despite fears that Powell's speech would have a hawkish tone, he said "the downside risks to employment are rising," and "If those risks materialize, they can do so quickly in the form of sharply higher layoffs and rising unemployment."The comments suggest rate cuts could be on the table next month, which would directly benefit risk assets like bitcoin and ether.The market remains volatile following the speech, with BTC pulling back slightly from $115,700 to $114,800. While liquidations have taken derivatives positions out of the market, open interest has risen to its highest point in four days, suggesting that the bounce is also being backed by leverage, according to Coinalyze.The altcoin market is lagging behind ether with the exception of lido (LDO) and ethena (ENA), which are both continuing their upside ascent after the SEC clarified rules around staking earlier this month.Source: https://www.coindesk.com/markets/2025/0 ... quidations