CPI meets expectations, SPY remains unchanged. Gold actually fell 1.4%, and the safe haven logic is that no one is buying today. Turning over to look at the cryptocurrency circle, FNG dropped to 9, extremely fearful. The large pie lying horizontally near 62k is as fearful as 50k. The trader's heart has reached the bottom before the price. The US stock market is completely indifferent. NVDA fell 1%, SOXX is still slowly rising. The emotions of the two markets are now separated like parallel universes. What I want to say is not that FNG 9 should buy at the bottom. When such extreme values emerge, it is worth asking: is fear one step ahead of reality, or has the price not kept up with fear? If SPY doesn't break and BTC doesn't hit a new low this week, FNG will come back on its own. The fear index is not used for trading, it is used to see who stays awake in panic.