The U.S. PPI data for August was released last night, showing that U.S. inflation continues to be under control. U.S. stocks responded relatively positively, with the three major indexes rising. Whether Bitcoin can stand firm above $58,000 and continue its upward trend has become a short-term target of concern. (Preliminary briefing: U.S. CPI in August was mixed) Bitcoin V soared by US$58,000, and U.S. stocks turned red by 8%.) (Background supplement: Comments) The U.S. interest rate cut is coming soon, really Is it the antidote to the crypto market? ) The latest data released by the U.S. Bureau of Labor Statistics (BLS) yesterday (12th) showed that the annual growth rate of the U.S. Producer Price Index (PPI) in August was 1.7%, lower than market expectations of 1.8%, a record A new low since February this year; the previous value was also revised down from 2.2% to 2.1%. This follows CPI data, which further showed US inflation is moderating. At the same time, in the week ending September 7, the number of initial jobless claims in the United States was 230,000, slightly higher than market expectations. The previous value was revised from 227,000 to 228,000, but the overall change was not significant. Analyst: It is unlikely that the Fed will cut interest rates by 2%. In response to this economic data, Paul Ashworth, an analyst at Capital Economics, an economic research institution, pointed out that PPI once again provides evidence for the US Federal Reserve (Fed) to start cutting interest rates next week: As As expected, PPI increased by 0.2% month-on-month last month, while July's growth rate was revised downwards. However, the analyst also pointed out that combined with the CPI data on Wednesday (11), the possibility of the Fed cutting interest rates significantly is not high: Combined with the CPI, the PPI data shows that the core PCE rate that the Fed prefers will rise moderately. 0.14%, the Fed is expected to cut interest rates by 25 basis points next week, and their threshold for significant interest rate cuts is still high. QCP Capital: Bitcoin volatility will fall before next week’s FOMC meeting. In addition, QCP Capital also posted on its official Telegram channel that: Based on CPI data and PPI data, the probability of the Fed cutting interest rates by 25 basis points has climbed to 85%, reaching nearly one highest level since last month. The rebound in Bitcoin shows that bullish sentiment in the market is relatively dominant. This conclusion can be drawn from the fact that investors continue to bet on call options in October and December. However, except for the expected Fed interest rate cut and the impact of the US election, there may not be any fundamental factors affecting Bitcoin in the near future, so before the dust settles, Bitcoin’s volatility will be lower: Driven by the CPI release and the presidential debate, this month Weekly BTC volatility fell by 12%.With no major overall economic events happening in the near term, we expect volatility to move lower ahead of next week's FOMC meeting. The three major U.S. stock indexes rose, while the Dow Jones index rose slightly, rising 235.06 points, or 0.58%, to close at 41,096.77 points. The Nasdaq rose 174.15 points, or 1%, to close at 17,569.68. The S&P 500 gained 41.63 points, or 0.75%, to close at 5,595.76. The Philadelphia Semiconductor Index fell 11.73 points, or 0.24%, to close at 4,898.44 points. Bitcoin once exceeded $58,500. After the PPI data and the number of initial unemployment benefits were announced, Bitcoin's fluctuations amplified in a short period of time, ranging between 57,500 and 58,500. At the time of writing, it was $57,956, with an increase of 0.42% in the past 24 hours. Whether it can stand firm at 58,000 and continue to rise will become a short-term target of concern. Ethereum’s trend was similar but weaker, and it did not successfully break through $2,400. At the time of writing, it was $2,354, down 0.13% in the past 24 hours. Related reports: Focus on U.S. CPI tonight》Economist: There is a high chance that the Federal Reserve will cut interest rates by 1% next week, and there will be two Fed officials at the end of the year who said "the rate will be cut by more than 1%""Market plummeting data, U.S. bond reaction, take a look at it Arthur Hayes explains: Why the Fed’s rate cut won’t help Bitcoin? "Bitcoin's Battle to Defend $58,000" U.S. August PPI and unemployment data are released, and the probability of the Fed dropping 1 yard next week will increase> This article was first published on BlockTempo "Dongzone Trend-The Most Influential Blockchain" News Media".

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