According to the latest analysis by Barclays Bank, Federal Reserve Chairman Jerome Powell's hawkish stance may not undergo significant changes due to fluctuations in employment data. Analysts predict that there may only be a modest rate cut of 25 basis points in December this year, and the possibility of a rate cut in September is even more questionable. Market participants will closely monitor the upcoming Jackson Hole annual meeting for more clues on policy direction.

This prediction may have multiple impacts on the cryptocurrency market. First, in an environment where interest rates remain high, the attractiveness of dollar-denominated assets may increase, which could put pressure on the cryptocurrency market due to capital outflows, thus affecting price performance. Investors may tend to allocate funds to traditional financial assets, reducing their holdings in crypto assets.

Secondly, if there is a significant discrepancy between market expectations and actual policies, it may trigger panic selling by investors, undermining the confidence of long-term investors and adversely affecting the stable development of the market.

Finally, a hawkish policy stance may strengthen the dollar, which will suppress the demand for cryptocurrencies priced in dollars. At the same time, the direction of U.S. economic policy may divert investors' attention and capital from the cryptocurrency market.

Overall, the Federal Reserve's policy direction will continue to be one of the important factors influencing the trends in the cryptocurrency market. Investors need to closely monitor policy developments and adjust their investment strategies accordingly.