The Consumer Price Index (CPI) data for July in the United States is about to be released, which is a key indicator for the direction of monetary policy in September. The market generally predicts that the CPI will reach 2.8%, a slight increase of 0.1 percentage points from last month. If the actual data exceeds expectations, it could drop the likelihood of an interest rate cut in September; conversely, if it meets or falls below expectations, the cryptocurrency market may see a new wave of increases.

However, the current situation is not favorable for bulls. From 2.4% in May to 2.7% in June, the CPI shows a clear upward trend, mainly influenced by tariff policies. Food and housing prices have risen more than 3% year-on-year, becoming the main driving factors of inflation. Although oil prices have generally retreated, electricity and natural gas prices continue to rise.

It is worth noting that the Wall Street Journal reporter known as the "Fed's mouthpiece" predicts that the core CPI may exceed 3.1%, far exceeding market expectations. This prediction holds certain reference value, as the reporter is believed to have close ties with senior officials at the Federal Reserve. Unlike non-farm payroll data, CPI data is less likely to be manipulated or significantly revised.

The current market situation is filled with uncertainty, and investors should closely monitor the market reaction after the CPI data is released. The cryptocurrency market, especially the trends of Bitcoin and Ethereum, may be significantly affected. At the same time, the attitudes of institutional investors towards Ethereum are also worth paying attention to, as this may indicate the future direction of the market.

At this critical moment, investors need to remain vigilant, weigh various possibilities, and adjust their investment strategies in a timely manner based on the latest data. Regardless of the outcome, this CPI data release will have a far-reaching impact on the global financial markets.