According to Lookonchain, the U.S. Consumer Price Index (CPI) for August year-over-year was 2.5%, marking a decline for five consecutive months. A graph was shared illustrating the relationship between Bitcoin's ($BTC) price and the U.S. CPI (YoY), suggesting potential correlations for traders to consider.

According to Greeks.live, the US July CPI data was slightly lower than expected, reaching its lowest level since March 2021. This has led to widespread belief that the Federal Reserve will cut rates in September, with current market expectations pointing to a 25 basis points rate cut. Both the U.S. stock market and the crypto market experienced declines following this news.