Negative news has arrived, and it is quite intense. At 8:30 tonight, the United States released a batch of economic data, all of which exceeded market expectations.

The number of initial jobless claims fell to 218,000, lower than the estimated 235,000; GDP growth reached 3.8%, also higher than the forecasted 3.3%; more critically, the core PCE price index is also rising, stronger than expected.

Putting all this data together points to one conclusion: the U.S. economy may be overheating, and the inflation problem is more persistent than imagined. As a result, market expectations for recent interest rate cuts by the Federal Reserve have largely been dashed.

Once the data was released, the dollar strengthened rapidly, and prices for gold, silver, and crude oil all saw significant drops. Meanwhile, cryptocurrencies, as typical high-risk assets, often feel the impact most directly and severely.