I believe the U.S. April PPI has surged out of control, jumping 1.4% month-on-month and far exceeding expectations—showing that inflation is rebounding strongly.


With Fed rate-cut expectations pushed back significantly, the high-interest-rate cycle is likely to be prolonged.
In the short term, the outlook is bearish; Bitcoin is under pressure and sees range-bound trading at elevated levels.
Over the medium to long term, the stagflation logic is strengthening. Bitcoin’s anti-inflation attributes are becoming more prominent, and it has already begun to set up the next target level.
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