Fed Governor Christopher Waller said the September rate decision will be heavily influenced by next week's August CPI print. Continued disinflation could support holding rates steady, but hotter data could tilt him toward a hike. BTC briefly pumped after the remarks, triggering about $415M in short liquidations, but CME FedWatch still prices a roughly 60% chance of a September hike.
Matters because: A hawkish CPI surprise could quickly reverse recent crypto gains, while softer inflation could extend the rally.