QCP Capital released a market analysis noting that the CPI data released tonight caught everyone's attention. The market expects a 70% chance of a rate cut in September. This optimism is reflected in the continued rise in the stock market, but it has not yet been digested by the cryptocurrency market. BTC front-end volatility rose by 5 points this morning. The risk reversal is favorable for the upside, indicating that the market expects potential upside volatility. In addition, the German government yesterday transferred 10,000 BTC to exchanges and market makers. Wallets now hold only 15,000 BTC, compared to the original 50,000 BTC held in mid-June, indicating that supply pressure may have eased somewhat. As supply dwindles, weaker CPI data could be a catalyst for breaking out of this range, especially with the upcoming spot Ethereum ETF trading next week, which is expected to present risk-reward opportunities.