Crypto Market Faces Pressure as Key Events Loom in September

The cryptocurrency market will be heavily influenced by several key events in September, including the US Federal Reserve's meeting on September 15-16 and the Bank of Japan's decision on September 17-18.

On September 16, the Fed is expected to announce its interest rate decision, which has been a major source of anticipation. The August inflation data showed that consumer prices rose 0.4% month-over-month and 3.4% year-over-year, while core inflation came in at 0.3% month-over-month and 2.4% year-over-year.

A strong recovery in U.S. retail sales data for August could bolster the case for higher rates, whereas weak sales might ease investors' concerns about further policy tightening.

The Bank of Japan's decision to raise its policy rate by 25 basis points to 1.25% will be closely watched as it affects the carry trade mechanism and has implications for global markets.