U.S. December CPI Preview: Market expects a year-on-year increase of 2.7%, with three major uncertainties to be revealed 1⃣ Government shutdown caused a data gap in October, some prices were suppressed in November, and December may see a "technical rebound." 2⃣ Will housing inflation continue to ease? Will tariff impacts emerge? These are key to judging the trend. 3⃣ The strength of the data will reshape the rate-cut path—strong data could disrupt the easing pace, while weak data might ignite a rally in risk assets. Quick overview: How different outcomes could impact the market Meeting expectations (2.7%): Market remains stable, Fed likely to stay put in January, eyes on a June rate cut; Bitcoin may consolidate at high levels. Above expectations (>2.7%): Concerns over sticky inflation rise; Bitcoin may face pressure and retreat due to tightened liquidity. Below expectations (<2.7%): Rate-cut expectations could accelerate; Bitcoin may seize the opportunity to rally, attracting capital back to crypto assets. The market holds its breath #CPI #FederalReserve