Federal Reserve Chair Jerome Powell speaks at Harvard today. Markets watch for rate clues. CME FedWatch shows no cut expected. Bitcoin faces bottom pressure with on-chain models predicting $46K-$54K floor.

CryptoQuant analyst Axel Adler Jr. said Bitcoin has entered a new accumulation area, while the CVDD valuation model places the current cycle’s structural bottom near $48,000. He said the next focus is whether BTC can hold the $60,000 area and whether the smoothed seller risk ratio continues to recover.