Federal Reserve Chairman Powell clearly stated that he would "not rescue the market". Can cryptocurrencies wait for the liquidity feast?

On April 17, Federal Reserve Chairman Powell reiterated at the Chicago Economic Club that the Fed will remain cautious about rate cuts and wait for a clearer situation before considering rate reduction actions, warning of the dual challenge of inflation and economic goals. Powell also denied a Fed Put rescue and emphasized orderly market operations. Influenced by Powell's views, cryptocurrencies experienced slight volatility. Bitcoin's latest quote reached $83,921, with a daily high of $85,511, and a 24-hour increase of 0.19%. The weekly high was $86,512, the low $83,150, with a weekly increase of 0.27%. For mainstream assets, ETH, BNB, SOL and others showed flat reactions. Solana rose 2.6% in a single day, approaching the $130 mark; ETH slightly dropped 0.7% to around $1,580; BNB declined 0.7% to $581. For ETFs, Bitcoin spot ETF saw a daily net outflow of $200 million, with total net asset value of $9.361 billion. Ethereum spot ETF experienced a daily net outflow of $7.74 million, with total net asset value of $5.3 billion. Derivatives data from Coinglass showed over 134,000 liquidations in the past 24 hours, totaling $275 million, with long positions liquidated at $161 million. Affected by related factors, the three major US stock indexes accelerated their decline, with the Dow dropping over 970 points (over 2%), S&P falling over 3%, and Nasdaq declining over 4%. The "Tech Seven Giants" showed a widespread downward trend. NVIDIA dropped about 10.5% during midday, ultimately closing nearly 6.9% lower. Tesla closed down nearly 5%, Apple fell close to 3.9%, Microsoft and Meta both dropped around 3.7%, Amazon declined over 2.9%, and Alphabet fell 2%. The market's analysis suggests that the current landscape faces multiple contradictions: technology stock overvaluation, gold hedging needs, trade policy uncertainties, and Federal Reserve monetary policy divergences. In the crypto market, Coinbase's latest report indicates that extreme negative sentiment has emerged due to global tariffs. Despite regulatory slowdown leading to increased crypto venture capital in Q1 2025, investment remains 50-60% below the 2021-2022 peak, potentially limiting new capital entry into the crypto ecosystem, especially in the Altcoin sector.