The sharp decline in the market today is due to the negative impact of inflation data exceeding expectations. The latest inflation rate is 4.9%, which not only surpasses the expected 4.4% but also exceeds the previous value of 4.5%. This data has intensified consumer concerns about the ongoing rise in prices, further pressuring the Federal Reserve to potentially adopt tightening measures such as interest rate hikes or balance sheet reductions.

Historical experience shows that when inflation remains above 4%, the Federal Reserve often adopts a tough stance, as seen in 2022 when interest rates were raised consecutively by 75 basis points. This data significantly reduces the probability of a rate cut in September, raises expectations for real interest rates, increases the holding costs of non-interest-bearing assets, and triggers market adjustments. #美国7月PPI年率高于预期 $BTC #加密市场回调