Zach Pandl, Head of Research at Grayscale, analyzed that the U.S. August Consumer Price Index (CPI) data could temporarily have a negative impact on the cryptocurrency market. He explained via his X account, "A high CPI means that the Federal Reserve's possibility of raising interest rates has increased. This can act as a kind of 'speed bump' for the cryptocurrency market. However, the decline is not expected to be significant. It will be a good opportunity for investors who missed the opportunity for a price surge in August." On this day, the U.S. Department of Labor announced that the August CPI rose by 3.4% compared to the same month last year, matching market expectations (3.4%). Month-over-month, it increased by 0.4%, also matching expectations (0.4%).
