Federal Reserve Chair Powell has reaffirmed the likelihood of a 25-basis-point rate cut on October 29, citing a fragile labor market, despite internal divisions among Fed officials. Some members express caution due to inflation and growth resilience concerns, while futures markets anticipate another rate cut in December, suggesting an extended easing cycle. In the cryptocurrency market, Ethereum is experiencing heightened volatility. Coinglass data reveals significant liquidation zones at $3,709 and $3,926, indicating intense market activity between bulls and bears. Key support is identified at $3,589, with potential for further liquidations if breached. Resistance levels are noted at $4,085 and $4,180, reflecting increased hedging amid macroeconomic uncertainty. Bitunix analysts highlight that the Fed's mixed signals on rate cuts and inflation concerns will influence market trends, with Ethereum's leverage distribution showing a defensive shift.