I really didn't expect that the $BTC spot ETF suddenly surged yesterday, with a net inflow of over 6,300 Bitcoins. I was shocked when I saw this data. What happened yesterday? It was probably the explosion of the PPI data. Why did it trigger so many investors to buy? The last time there was such a large-scale purchase was on July 16, nearly two months ago. The market should have fully anticipated that the Federal Reserve would cut interest rates in September, so they increased their bets?

It's very likely that's the case. Even though today's CPI data isn't friendly, BTC's price is still rising nicely. It may very well break through again before the interest rate meeting, which is a good boost for market sentiment. Next, we will see the interest rate meeting and the dot plot.

This article is sponsored by #Bitget ｜ @Bitget_zh

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