The digital money market shows a fluctuating trend today, mainly influenced by US economic data and policy changes.

Bitcoin briefly broke through the $114,000 mark after the release of the Producer Price Index ( PPI ) data in the United States, followed by a pullback. This trend may indicate that the weak rebound could come to an end in the short term.

Ethereum closely follows Bitcoin's trend, showing relatively weak performance. However, from a broader perspective, this may just be a phase of market adjustment as it digests the selling sentiment. It is worth noting that there has been no significant change in the stock, and the selling pressure has eased, suggesting that the market may be at a critical point before a shift.

The annual PPI in the US for August was 2.6%, lower than market expectations, providing upward momentum for Bitcoin. Meanwhile, several banks have raised their expectations for the number of interest rate cuts by the Federal Reserve, reflecting a change in market views on the direction of monetary policy.

In terms of politics, the White House confirmed that Trump has the legal authority to dismiss Federal Reserve Governor Lisa Cook, which has sparked discussions about the independence of the Federal Reserve. At the same time, U.S. senators are pushing for the passage of the crypto market structure bill within the year, indicating that the regulatory environment may face changes.

JPMorgan pointed out that institutional adoption of cryptocurrencies is still in its early stages, suggesting that there is significant room for growth in this field. On the other hand, the Kyrgyz Parliament has approved the establishment of a strategic Bitcoin reserve, becoming the first country to take such measures, highlighting the potential of Bitcoin as a reserve asset being recognized by more countries.

These events combined reflect the close relationship between the digital asset market and the macro economy, as well as the policy environment, and also indicate the opportunities and challenges that the market may face in the future.