The price of XRP, Solana, and Dogecoin slid on Tuesday ahead of the Federal Reserve’s next policy decision, an event that could shape any hopes of further rate cuts as the crypto market attempts to recover from a bumpy stretch.

在美聯儲下一個政策決定之前，XRP，Solana和Dogecoin的價格在星期二滑行，這一事件可能會影響加密市場的任何進一步降低的希望，因為加密貨幣市場試圖從顛簸中恢復。

The Fed is widely expected to leave its benchmark interest rate unchanged at its next meeting, but investors will still be focused on Fed Chair Jerome Powell’s post-decision remarks, alongside a so-called Summary of Economic Projections (SEP) that the U.S. central bank is set to release at 12 p.m. ET on Wednesday.

人們普遍預計，在下次會議上，美聯儲將使其基準利率保持不變，但投資者仍將專注於美聯儲主席杰羅姆·鮑威爾（Jerome Powell）的決賽后言論，以及所謂的經濟預測摘要（SEP），美國中央銀行定於週三下午12點發布。

“Altcoin season may be dictated by Powell this year,” Bitwise Senior Investment Strategist Juan Leon told Decrypt. “If officials add more cuts to the ‘dot plot,’ that would likely boost crypto, given expectations of lower rates and higher implied support from the Fed to the economy.”

比特高級投資策略師胡安·萊昂（Juan Leon）告訴Decrypt：“今年鮑威爾（Powell）今年可能會決定替補賽季。” “如果官員對'DOT圖'增加了更多的削減，那可能會提高加密貨幣，因為人們期望對美聯儲對經濟的利率和較高的暗示支持。”

The Fed’s SEP will include projections on the unemployment rate and economic growth, but among the most important for risk assets is officials’ expectations on interest rates. The crypto market boomed to new highs as the Fed delivered a series of rate cuts last year.

美聯儲的SEP將包括有關失業率和經濟增長的預測，但對於風險資產來說，最重要的是官員對利率的期望。由於美聯儲去年進行了一系列的降低，加密市場蓬勃發展。

However, the crypto market has lost $1 trillion in value since the Fed’s December meeting, according to CoinGecko. Policymakers signaled then that there would be fewer rate cuts this year than investors anticipated, projecting two quarter-percentage-point rate cuts instead of four.

但是，自從美聯儲12月會議以來，加密貨幣市場的價值損失了1萬億美元。政策制定者當時表示，今年的降低比投資者預期的要少，預計將降低四分之一百分點的降低率，而不是四個。

The price of XRP, Solana, and Dogecoin had each fallen over 4% to hit $2.26, $124, and $0.16, respectively, by 11:32 a.m., while Bitcoin fell 2.4% to $82,000 and Ethereum edged down 1.7% to $1,900.

XRP，Solana和Dogecoin的價格分別下跌了4％，分別達到2.26美元，124美元和0.16美元，到11:32 am，而比特幣則下跌2.4％至82,000美元，以太坊（Ethereum）下跌了1.7％，至1,900美元。

Leon said Powell will likely strike a “cautiously optimistic tone,” while officials leave the dot plot unchanged from its previous meeting. The U.S. central bank is in a “wait-and-see mode” on tariffs and inflation, and Powell will likely point to a murky outlook on the economy, he added.

萊昂說，鮑威爾可能會以“謹慎樂觀的語氣”觸動，而官員們則將點數與以前的會議保持不變。他補充說，美國中央銀行的關稅和通貨膨脹處於“等待方式”，鮑威爾可能會表明對經濟的看法。

President Donald Trump’s on-again, off-again approach to tariffs has weighed on crypto prices since his inauguration. While they’ve sparked inflation concerns, some economists fear that they may also weigh on economic growth through elevated costs for consumers and businesses.

唐納德·特朗普（Donald Trump）總統的競爭性，不合時宜的關稅方法自由典禮以來就加重了加密貨幣的價格。儘管他們引發了通貨膨脹的問題，但一些經濟學家擔心他們也可能通過增加消費者和企業的成本來權衡經濟增長。

Elon Musk’s Department of Government Efficiency, or DOGE, has added to growth concerns, as market participants digest how federal spending cuts could impact employment and the economic growth that the U.S. central bank closely monitors.

埃隆·馬斯克（Elon Musk）的政府效率部（或多吉）增加了增長的關注，因為市場參與者消化了聯邦支出削減如何影響就業和美國中央銀行密切監視的經濟增長。

Leon said that altcoins like XRP, Solana, and Dogecoin have grown especially sensitive to rate cut expectations, as the Securities and Exchange Commission strikes a more crypto-friendly tone.

萊昂說，隨著證券和交易委員會的效果更加友好的基調，XRP，Solana和Dogecoin等Altcoins對降低期望的敏感特別敏感。

“They will now be more at the whims of macro, as opposed to specific regulatory actions,” he said.

他說：“與特定的監管行為相反，他們現在將更多地處於宏觀的異想天開。”