Recently, the Crypto Assets market has experienced a pullback, and the price of Bitcoin has declined. Investors and analysts are focusing on the upcoming important event — Fed Chairman Jerome Powell will deliver a speech at the Jackson Hole summit on Friday, August 22. This speech is seen as a key window for understanding the direction of the Fed's September policy meeting.

As the prices of some mainstream Crypto Assets approach or reach historical highs, a clear phenomenon of profit-taking has emerged in the market. The Jackson Hole Summit, as the focal event of the financial world this week, is of great importance. Historical experience shows that the Fed Chair often uses this platform to convey important monetary policy signals, including tendencies for interest rate hikes or cuts. Therefore, market participants generally expect Powell to make a clear statement this time to provide guidance for future policy direction.

Currently, the market generally expects the Fed to potentially implement a 25 basis point interest rate cut in September. However, if this week's market atmosphere suggests that there will be no rate cut in September, Bitcoin may face further downward pressure. In this case, traders will closely monitor whether the Bitcoin price will drop near the 200-day moving average, which is around $100,000 and is considered the next important support level.

Overall, the Crypto Assets market is at a critical crossroads. Powell's speech and its implications for future monetary policy are likely to be significant factors in determining the short-term market direction. Investors should remain vigilant and closely monitor the developments from the Jackson Hole summit, as well as the potential ripple effects on the Crypto Assets market.