Tonight, the release of US CPI data will become the focus of the market, and the price of Bitcoin (BTC) will also face an important test. Currently, the price of BTC is hovering around $60,000, and the market seems to be waiting for the release of CPI data to determine the next trend. Looking back at the first nine days of this month, although the price has declined to a certain extent, it is still possible to rebound in the next half month. There are still 25 days before the US election, and investors need to remain patient and observe market dynamics.

The impact of CPI data on Bitcoin prices has always attracted much attention. Historical experience shows that if CPI data is higher than market expectations, Bitcoin prices tend to fall rapidly; conversely, if the data is lower than expected, it may stimulate positive market sentiment and drive Bitcoin prices up. At present, the market generally believes that the Federal Reserve is unlikely to cut interest rates in November, and expects a rate cut of about 47 basis points by the end of 2024, which is lower than before.

In addition, the volatility of Bitcoin prices may also be affected by geopolitical risks. Against the backdrop of turbulent global political situation, conflicts or uncertainties in any region may affect investors' risk appetite, thereby causing fluctuations in Bitcoin prices.

Therefore, investors should pay close attention to the release of CPI data and be prepared for possible market fluctuations. At the same time, considering that the US election is approaching, the market may be more sensitive and unstable, and investors need to act cautiously and avoid excessive risk.