According to data from the U.S. Bureau of Labor Statistics, the Consumer Price Index (CPI) rose by 0.4% month-over-month and 3.4% year-over-year in August, with energy prices being the primary driver. Lewis Huang, an analyst at Bitget, noted that while overall inflation accelerated due to energy prices, core inflation continued to slow, providing the Federal Reserve with room to assess the rise in overall inflation. Analysts generally believe that this CPI data was largely in line with expectations and will have limited impact on the Federal Reserve's September interest rate decision, making the cryptocurrency market more reliant on potential demand and broader financial conditions. Bitcoin prices briefly approached $79,000 before stabilizing around $77,800, while Ethereum prices rose above $2,500.