CoinMeta data: In the latest market update, it was noted that in September, the US CPI rose 3.7% year-on-year, higher than the expected 3.6%, and 0.6% month-on-month. The core CPI also rose 0.3% month-on-month. During the same period, retail sales grew by 0.8%, exceeding the expected 0.3%, which prompted the market to re-evaluate the Federal Reserve's interest rate path. The Bitcoin and digital asset markets came under pressure, with global digital asset investment products seeing a net outflow of $434 million so far this week. Although the market still expects the Federal Reserve to maintain interest rates unchanged in October at around 75%, the expectation of further rate hikes within the year has clearly increased. CoinShares believes that the short-term environment for Bitcoin is challenging, but it is not yet sufficient to make a fundamental bearish judgment. The market needs to wait for further evidence of cooling inflation or weakening economic activity; in the coming weeks, we may continue to see range fluctuations driven by economic data.