In the current global financial environment, the monetary policy of the Federal Reserve continues to attract attention. As the Federal Reserve maintains the Intrerest Rate unchanged, the flow of hot money is restricted, which has a significant impact on the encryption currency market. Currently, the encryption currency market is at a critical crossroads.

In the absence of significant positive news, the cryptocurrency market may continue to remain in a volatile state. From a technical analysis perspective, if the market ultimately forms a weekly level pullback center, then the current third phase of the pullback may still require at least two weeks to complete.

Investors and market participants are closely monitoring the upcoming economic indicators. In particular, the Consumer Price Index (CPI) data to be released on September 12 will provide important clues for the market, helping to determine whether a rate cut may occur in September.

However, the market trend is not completely pessimistic. If the bulls can successfully withstand the current pressure and maintain the previous high point of 109500 without breaking it, there is still a possibility of an upward trend in the short term. This means that the market may not form a weekly central pivot, but instead continue to remain strong.

Overall, the cryptocurrency market is in a delicate state of balance. Investors need to closely monitor the Federal Reserve's policy signals, important economic data, and the market's technical indicators in order to make informed investment decisions. During this uncertain time, it is particularly important to maintain vigilance and a flexible investment strategy.