Tonight is destined to be extraordinary. Is the calm market building strength for long positions or will it continue to fall?



At 20:30 tonight, the U.S. July CPI data will be released with great significance. The market expects this data to be 2.8%, higher than the previous value, and its performance is receiving a lot of attention.

The current situation within the Federal Reserve shows a clear "hawk-dove standoff." If this CPI data confirms that inflationary pressures still exist, the Federal Reserve may be more cautious in its subsequent rate cuts.

Specifically, if the CPI is higher than expected, Bitcoin may face short-term pullback pressure; if it meets expectations, the market will carefully study the Federal Reserve's statement for "dovish signals"; and if it is lower than expected, expectations for a rate cut in September will rise, and the crypto market is likely to welcome a frenzy.

Overall, I am bearish, but I don't recommend entering at this time. I expect a small rebound tonight, and then look to short when it goes up, targeting 113000-110000. #PI#
BTC-1.25%
ETH-4.56%
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