Recently, US economic data has been released one after another, and market sentiment is a bit unstable.

First, the GDP performance exceeded expectations, and the unemployment rate wasn't as bad as expected; both signals indicate that the economy is still doing well, which dampens expectations for interest rate cuts.
The US stock market isn't afraid, with the S&P 500 reaching new highs, but the crypto market has been more volatile, with BTC barely holding at 112k USD, and ETH fluctuating around 4,500 USD.

What's more interesting is that SOL has been performing well lately because the US Department of Commerce decided to use Solana's Pyth Network to put economic data on the blockchain, causing the PYTH token to surge nearly 52%, and even the leading oracle LINK gained about 3%.
Additionally, the CFTC announced good news, allowing Americans to use offshore crypto exchanges, giving the crypto market some breathing room.

But tonight's PCE release time has arrived, and this is the real key.
Core PCE is an important reference for the Federal Reserve's interest rate adjustments, basically a measure of inflation, and the market is now paying close attention to this data.
If the PCE data comes out higher than expected, the economic data for two consecutive days will be unfavorable for rate cuts, and the market may face a setback.