#美国通胀数据与货币政策# Follow the latest released US core CPI year-on-year data which reached a five-month high of 3.1%, above market expectations. This data reflects that inflationary pressures are still persistent and may affect the Fed's future monetary policy decisions. Meanwhile, the overall CPI year-on-year remains at 2.7%, slightly below expectations, indicating a divergence in inflation trends.

From on-chain data, after the release of this news, I observed that some large addresses began to adjust their cryptocurrency asset allocations, mainly reflected in increasing stablecoin holdings and reducing high-risk assets. This may reflect market concerns about the Fed potentially continuing to tighten monetary policy.

It is advisable to closely follow the upcoming speeches of Fed officials, as well as the statement from the next FOMC meeting, as this information will provide important clues for us to judge the direction of monetary policy. At the same time, it is also necessary to continuously monitor the on-chain capital flows, especially the minting and redemption of stablecoins, as this may indicate changes in market sentiment.