The CPI data released today may be the biggest factor influencing the market direction in the near term and is also the only key data for this month.

The significance of this data lies not only in reflecting inflation itself but, more importantly, in whether it can serve as a "passport" for the Federal Reserve to ease its policies. Once price pressures alleviate, there will be a stronger justification for interest rate cuts, and a weaker dollar along with increased liquidity will be a comprehensive boon for the cryptocurrency market.