September’s biggest crypto events:
1. Biggest impact: US August CPI and the Fed’s interest-rate decision meeting—lower inflation / a more dovish Fed is positive; a rebound in inflation and hawkish remarks are negative.

2. Positive expectations: Progress on US crypto regulatory legislation, banks’ preparations for stablecoins, and inflows into spot ETFs.

3. Negative pressure: Large-token unlocks for multiple altcoins; plus potential risks such as SEC regulation, a pullback in the US stock market, and hacker attacks.

4. Focus: In this month, BTC and ETH have no major token unlocks; selling pressure is mainly concentrated in altcoins.

Conclusion: In one sentence, the base scenario (the most likely one) can be summarized as: mainly range-bound trading—BTC holds up better while altcoins are weaker; volatility increases around the release and absorption of news.

The single most important sentence summary

In September, the odds favor a choppy, differentiated market rather than a one-direction trend; the biggest feature is that BTC remains relatively steady while altcoins face greater pressure. The turning point in the market will largely be determined by the CPI data on September 11 and the Fed’s remarks on September 16.