The economic calendar on January 15 may trigger a chain reaction in the trends of cryptocurrencies such as $BTC and $ETH. Speeches by Federal Reserve officials Kashkari, Williams, and others are crucial—once hawkish signals are released, market risk appetite declines, putting pressure on prices; conversely, dovish statements may attract capital inflows. The initial jobless claims data and manufacturing index are also worth watching; if the data underperform expectations, markets may anticipate a rate cut by the Federal Reserve, which is usually positive for cryptocurrencies. Additionally, Bal's remarks on stablecoin regulation are a variable—policy stance shifts will directly impact the stablecoin ecosystem and the overall risk appetite of the crypto market. These factors intertwine, forming an important backdrop for recent market movements.