CPI data as a core indicator of inflation directly affects the Federal Reserve's interest rate hike expectations. If it rises above expectations, market panic may intensify, a stronger dollar will suppress risk assets, and the crypto market may face downward pressure; if it falls below expectations, interest rate cut expectations will heat up, and improved liquidity will boost the rebound of mainstream coins like BTC. The crypto market's sensitivity to macro factors has increased, leading to potentially heightened short-term volatility, but in the medium to long term, it is still dominated by the halving cycle and ETF funding. Investors are advised to pay attention to leveraged liquidation risks before and after the data release, to adopt a wait-and-see approach in the short term, and to strategically position in value coins when prices dip. It is necessary to be cautious of the recurring 'buy the expectation, sell the fact' market behavior and to reasonably control positions to cope with severe fluctuations.