Federal Reserve Chair Jerome Powell's upcoming speech on December 1, alongside the conclusion of quantitative tightening (QT), is anticipated to significantly impact cryptocurrency markets. Analysts believe these events could dictate whether Bitcoin and altcoins sustain their current rally or face a retracement. Market participants are closely watching for a softer tone from Powell, which could enhance expectations for rate cuts and bolster risk assets, including cryptocurrencies. With traders pricing in an 87% likelihood of a December rate cut, a dovish signal from Powell may further energize the crypto market. Conversely, a hawkish stance could slow market momentum into 2026, potentially leading to a retracement in crypto valuations.