US CPI data exceeded expectations across the board, and BTC's critical support level of 73.5K is about to be tested! October core CPI rose 0.3% month-on-month, higher than the expected 0.2% and unchanged from the previous month. Overall CPI rose 0.4% month-on-month, also higher than the expected 0.3%. This isn't just a single instance exceeding expectations; it's a comprehensive overshoot. Core inflation hasn't decreased, and overall inflation is higher than expected, indicating that inflationary pressures are more stubborn than the market imagined. What does this mean for the Federal Reserve? A December rate hike is practically a done deal. With core CPI at 0.3% for two consecutive months, underlying inflation hasn't continued to decline, and the Fed has no reason to loosen its grip. After the data release, the dollar and US Treasury yields are likely to rise. Bitcoin prices plummeted instantly. Impact on BTC: Negative. My previous statement that "CPI is the real directional catalyst" has yielded a hawkish result. The support level of 73,500 will most likely be tested tonight. If it breaks below this level, the next target is 71,100. 75,000 is the threshold for a rebound; if it can't break through, any rebound will be weak. Brothers and sisters, the CPI has exceeded expectations across the board, leaning hawkish, which is bearish for BTC. BTC's price is heavily reliant on 73.5K; it's highly unlikely to hold. I don't recommend following the whales and constantly buying the dip. Whales have large scale, and retail investors can't keep up with their pace and money flow patterns. The only thing retail investors can do is wait patiently. Control yourself and protect your wallet balance.