The latest data shows that the fear index remains at 54, in the neutral range. Although the market generally expects the Consumer Price Index (CPI) data to show a high temperature, the current weakness in the job market has become a key factor influencing Fed's policy-making. Analysts believe that the CPI data is unlikely to change the expectations of a possible interest rate cut in September.

The upcoming Fed monetary policy meeting is seen as a key event that will determine the medium-term trend of the market. Currently, the market has fully priced in a 25 basis points rate cut expectation. Investors' attention will focus on the Fed's statements regarding the future rate cut path. Against this backdrop, the rebound potential of Bitcoin may be limited.

Looking ahead to the interest rate cut path before the end of the year, in addition to September, the market expects the Fed to possibly take further rate cut actions in October and December. With the start of the rate cut cycle, capital liquidity is expected to be enhanced, which may further drive up the prices of crypto assets.

However, it is important to note that these expectations still carry uncertainty. Market participants should closely monitor the Fed's policy signals and changes in economic data to adjust their investment strategies. In the current complex economic environment, it is crucial to maintain a cautious and flexible attitude.