#美国核心物价涨幅不及市场预估 US core CPI unexpectedly declined, and the market reaction is a bit excessive. Inflation expectations suddenly shifted, and short-term bearish sentiment has clearly increased, but is this really a positive or a test? The Federal Reserve's policy shift often determines the next phase of the market trend. The crypto market is particularly sensitive—once the CPI data is released, $BTC, $ETH start to fluctuate wildly. A decline in data usually indicates rising expectations of rate cuts, which theoretically is beneficial for risk assets. But the question is, is this market reaction truly pricing in the future, or is it purely technical selling? There is quite a bit of short-term noise, but in the long run, easing inflation pressures are still beneficial for the entire Web3 ecosystem.