Bitcoin hits four-week high ahead of US CPI release, fueling expectations of a rate cut.

The cryptocurrency market is showing signs of volatility ahead of the U.S. inflation announcement. With major economic indicators and Federal Reserve officials' speeches scheduled this week, market tension is building. Large cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) are maintaining an upward trend and drawing attention, while other altcoins are showing a flat movement. The U.S. July Consumer Price Index (CPI) to be released on the 13th is a critical indicator for gauging the Fed's future interest rate direction. Predictions suggest a slight upward adjustment from 2.7% to 2.8%. The Producer Price Index (PPI) on the 15th will provide key data on price trends at the supply stage, potentially directly impacting consumer prices. The retail sales indicator released on the same day will reflect overall consumer economic sentiment. The Michigan consumer sentiment index and inflation expectation survey will also be reference materials for the Fed's monetary policy meeting. The possibility of a September rate cut is currently around 88%, suggesting potential changes in the Fed's stance based on this week's results. In the cryptocurrency market, Bitcoin momentarily rose to a 4-week high of $121,850, approaching its all-time high of $122,850 by about $1,000. Ethereum reached $4,320, recording its highest point in nearly 4 years, just 11.5% below its all-time high. Excluding the top two market cap cryptocurrencies, other major altcoins showed minimal movement. Hyperliquid and Chainlink (LINK) rose by over 4%. The total cryptocurrency market capitalization reached a record high of $41.3 billion, up 2%. With NVIDIA's earnings report scheduled for the 27th, there are analyses suggesting potential overlapping impacts on traditional and crypto markets. The market is now focusing more on policy events and mega-cap tech stock trends rather than short-term profit-taking. The series of U.S. economic indicators and central bank events this week are expected to directly influence the cryptocurrency market. With market momentum driven by rate cut expectations, increased volatility is anticipated. Investors are advised to approach cautiously. The resilient rebound of Bitcoin, Ethereum, and some structurally supported altcoins will be key to determining future market trends.