Whether the Fed raises interest rates might not be the main theme for upcoming market trades, especially since the Fed might actually be unable to raise rates (interest rates are too high). The real focus should be on Treasury yields. The higher the Treasury yields, the harder it is for the U.S. government to handle interest expenses, forcing the Treasury to step in with buybacks and interventions, potentially leading to long-term yield curve control. This is also why, after the CPI data was released, Treasury yields went up, but BTC and the stock market were rising instead.