According to Odaily, Federal Reserve Chairman Powell has stated that he will not signal the timing of future policy actions. He noted that rising inflation is not the only risk the economy faces, which slightly increased the possibility of a rate cut in September. However, Powell's testimony did not have a significant impact on the price of Bitcoin (BTC). After a brief rebound, BTC quickly gave back its gains and is currently slightly above $57,000, with a slight increase in the past 24 hours.
This Thursday, the latest inflation data will be released. The US Consumer Price Index (CPI) report for June is expected to show a 0.1% increase in prices last month, with core prices (excluding food and energy) rising 0.2%. On an annual basis, the overall inflation rate is expected to reach 3.1%, and the core inflation rate is expected to reach 3.4%. Any unexpected direction could quickly change the possibility of a rate cut in September.