The year-on-year seasonally adjusted CPI in the United States for July was recorded at 3.2%, the first acceleration since June 2022, but lower than the market's expected 3.3% and the previous value of 3%. The month-on-month seasonally adjusted CPI for July was recorded at 0.2%, unchanged from the previous month, meeting market expectations. The year-on-year seasonally adjusted core CPI was recorded at 4.7%, lower than the expected and previous value of 4.80%, reaching a new low since October 2021.

Yesterday's Review:

After announcing the results, there were two possible trends. If the announced result is between 3.2% and 3.0%, there will be another wave of positive news in the evening. If it does not break through, the trend will still be bearish, so it is recommended to maintain a high short position in the evening. In terms of operations, it was recommended to establish short positions above 29.6k yesterday, and there were opportunities for short-term profits in the evening. BCH also provided an opportunity to enter long positions at 230; LTC remained unchanged and did not require adjustment.

Market Analysis:

The reason why Federal Reserve officials are concerned about core inflation is because they believe that core inflation is more predictive of future inflation trends than overall inflation. The current core CPI in the United States is particularly questionable, raising doubts about whether the Federal Reserve needs to raise interest rates again this year, as most officials predicted in June.

Institutional comments indicate that the data largely met expectations. Nevertheless, the yield on the two-year US Treasury bonds fell by about 8 basis points. This may in some way confirm that the Federal Reserve may not raise interest rates in September.

Intraday Blueprint:

After the recent rise over the past few days, the overall market has remained within a range of fluctuations without breaking through. Although the high and low points have been touched, it has not been able to firmly establish itself at any point. The non-farm payroll and CPI did not achieve the corresponding market-expected trends, but it is still necessary to remain cautious. As mentioned yesterday, the focus this time is not on the data release itself, but on the comments made by the Federal Reserve after the release and whether there will be "room for rate cuts" in September.

BCH:

The daily K-line downward channel remains stable. Although there was a slight breakthrough in the recent days of fluctuations, it did not break through the upper range of the downward channel. The top pressure level is still in effect, and the daily MACD has formed a golden cross trend. However, due to the recent frequent weakening, it has not been able to break through. The implications of the CPI go far beyond this, and it is expected to be reflected on Friday evening. Therefore, the intraday layout continues to be executed, and the overall direction does not need to be changed.

Operational suggestion: Friends who are still holding short positions at 1860 should continue to hold. For those who have not entered the market, pay attention to establishing short positions in the 1850-1855 range, with the target continuing to look down to the 1840-1825 level. Risk control remains unchanged.

BTC:

Compared to BCH, BTC is much more obvious. It can be seen that the demand for BTC's rise is not very high, and the strategy of establishing high short positions multiple times is definitely correct. Additionally, there has been a recent double top pattern. Therefore, the successful completion of the short position at 29.7k was achieved yesterday, and it is still weakening during the day today. The mid-term support remains around 29.1k, and the high short strategy should be maintained intraday. Friday may be the crucial day.

Operational suggestion: Enter a short position in the 29.5k-29.6k range during the day, with the target continuing to look down to around 29.1k before exiting. If there is a reversal, whether the top at 29.8k can stabilize will be the key point to determine whether the current downward channel is broken.

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