According to CoinMeta, a research report by CITIC Securities states that the US economic data in July fully met expectations, with core inflation continuing to show a moderate trend and the secondary inflation effect being weak. This helps to further alleviate market concerns about inflation risks. It is anticipated that the overall US CPI will continue to show a moderate slowdown throughout the third quarter and hit a bottom in September, followed by a slight rebound in the fourth quarter of this year and then a rapid decline in March next year. CITIC Securities still expects the Federal Reserve to remain inactive throughout this year, and there is room for further downward revision in the interest rate hike expectations priced in the derivatives market.