The shoe has finally dropped—4.2% in line with expectations, marking a new high since 23 years ago. But the core CPI monthly rate of 0.2% came in lower than the previous value and below expectations. This suggests inflation pressure hasn’t spread. #MacroAnalysis #Bitcoin The market’s “rate hike” expectations for the year have slightly cooled, but everything still hinges on the inflation data for June and July. Next week’s FOMC meeting—guess Walsh is going to be scratching his head big time. June is highly likely to see rates unchanged, but as for the specifics of his speech, let’s wait and see how Chairman Walsh phrases it. Basically, the data release didn’t exceed expectations, so the earlier risk-off sentiment has eased, and the market has already priced it in. U.S. stocks have opened with a slight rebound, and $BTC has also bounced back a bit from 609. This hurdle is cleared, but the FOMC meeting is still ahead. $BTC is likely to maintain a small range of fluctuations between 60-64 (roughly the range). I think as long as there’s no new negative sentiment during this period, staying above 60 and consolidating—even if it’s a boring phase—is fine. Just waiting for the FOMC meeting now. Currently, U.S.-Iran tensions seem to be back-and-forth but still relatively restrained, and oil prices haven’t surged past 89. All previous short positions during the highs have been closed. Let’s see if there’s another opportunity ahead—if oil prices repeatedly push above 90, then it’s time to short again. But the main focus is still on macro monetary policy. Hopefully, geopolitics can move toward a peace agreement soon, allowing the Strait of Hormuz to reopen and easing inflation pressure expectations. Let’s get back to rate cut expectations.