**Crypto Market Update: Volatility Amidst Economic Indicators**

The U.S. consumer price index for August rose by 0.2%, aligning with expectations, yet risky assets initially reacted negatively. The S&P 500 dropped over 1.5% before rebounding. Bitcoin (BTC) also dipped near $55,500 but recovered to above $57,500, indicating strong buying at lower levels.

Looking ahead, the next major catalyst could be the U.S. Federal Reserve's potential interest rate cut on Sept. 18, with an 85% probability of a 25-basis point reduction, according to CME Group’s FedWatch Tool.

Bitcoin's recent recovery above $58,000 has boosted market sentiment, with U.S.-based ETFs seeing positive inflows. However, BTC faces resistance at the 20-day EMA ($57,841). A rise above this could push BTC to $65,000, while a drop below $55,724 may lead to a decline to $52,550 or $49,000.

Ethereum (ETH) and other major altcoins like BNB, Solana (SOL), and XRP are also experiencing similar resistance at their respective 20-day EMAs. The market remains cautious, with potential for both rallies and declines depending on upcoming economic decisions and market reactions.

Stay tuned for further updates as we analyze the charts and market movements.