Parr BTC Pre-Market Report - 11.10 1. K-line: Nothing much to say, still in a consolidation phase. The direction will be determined by tonight's CPI data and US stock market performance. 2. Tonight's focus is on the CPI. This afternoon, Waller was hawkish: Even if tonight's CPI improves, he still favors a 25 basis point rate hike in December; if not, a 50 basis point hike should be considered. Currently, the market probability of a 25 basis point rate hike in December has risen to 81%, meaning a December rate hike is practically a certainty. The key for the market now is that a 50 basis point rate hike is unlikely, as that would be beyond expectations. Therefore, a core CPI of ≤0.2% is in line with expectations, and coupled with falling oil prices, the outlook is bullish. Core CPI at 0.3%, but service inflation not worsening → The market may consolidate first, then we'll see how the 2-year and DXY perform. However, if the CPI is ≥0.4%, it indicates strong employment, strong GDP, and high inflation. In this case, the Fed has virtually no reason to back out and may even add 50%, which is bearish.