Fed faces difficulties, CPI rose to 2.9% in August: Bitcoin remains stable around $114,000

The US CPI rose 0.4% month-on-month, 2.9% year-on-year, and the core CPI rose 0.3% month-on-month and 3.1% year-on-year, slightly exceeding expectations. The market is waiting for the Fed's policy tone, and the price of Bitcoin consolidates around $114,000. Analysts believe that cryptocurrencies may gain support if the Fed emphasizes loose policies, but cryptocurrencies will face resistance if they are cautious. Inflation data complicates the Fed's policy path, which may lead it to adopt slower, more data-dependent easing policies rather than rapid rate cuts.