The US July CPI data is about to be released. Oil prices have a strong correlation with CPI. In June, oil prices were higher than in May, causing CPI to rise from 2.4% to 2.7%. In July, oil prices are lower than in June, and the market expects July CPI to be 2.8%, but it is more likely to be between 2.6% and 2.7%.
Market speculation corresponding to different CPI data:
CPI at 2.6% (below expectations and previous value): Initially, retail investors enter the market causing a rapid rise, followed by institutions dumping to create a "spike" market to liquidate retail long positions. After that, a new round of increase begins, overall showing a trend of first rising, then falling, and then rising again.
CPI at 2.7%: There is a high probability of first consolidating, then declining, and subsequently rebounding! $BTC
