The entire market is watching the CPI data, and whether to cut interest rates has become a key trigger

Based on this month's small non-farm and large non-farm data, if the CPI data continues to meet expectations, the previous comments from Old Powell have leaned towards a hawkish stance. Even if there is data falsification and Trump calls Old Powell 'Mr. Too Late', Yingjie still remains optimistic about the high inflation data.

CPI data: Previous value 2.7%, forecast 2.8%, published: X

The final result should be 2.7% or 2.8%, so it will inevitably exceed expectations and suppress the outlook for two interest rate cuts this year (bearish).

Although discussing technical aspects may seem meaningless, Yingjie still wants to briefly talk about it. Bitcoin has broken below the 120,000 mark and is facing pressure. If it weren't for the strong demeanor, Bitcoin might have collapsed directly. Currently, short positions are still held.

After the CPI data is released, several Federal Reserve officials will speak. Recently, the internal hawkish-dovish conflicts within the Federal Reserve have intensified. It’s possible that the market will show a rollercoaster trend after the data, so one must know when to take profits! $BTC