🔥BTC Market Brief:

"U.S. CPI data is out, what does it mean that it meets expectations? How will Bitcoin's price move afterward?"

Bitcoin needs CPI data below 4.0% to ease selling pressure. Data at 4.2% not only exceeds 4.0%, but also confirms that inflation has risen for the second consecutive month, reaching a nearly three-year high!!

Therefore, CPI meeting expectations (around 4.2%) is neutral to slightly bearish. I predict Bitcoin's price will first fluctuate and then continue to decline!

Data "meeting expectations" means: the market has already priced in the inflation increase, so there is no panic selling due to "unexpected negative news." But there is also no rebound catalyst below expectations.

The significance of CPI data meeting expectations:
(1) Confirms the persistent macroeconomic inflation pressure
(2) Reinforces market expectations that "interest rates will stay high longer"
(3) The probability of rate hikes before the end of the year remains high at about 75%

Today, Bitcoin "not crashing" does not mean "starting to rise."

CPI data meeting expectations means: no rebound catalyst, no unexpected negative news. The market will continue to oscillate in the 60,000-62,000 range, waiting for the next catalyst—Bank of Japan (June 15-16) and FOMC (June 16-17).

BTC price is still weakly trading between 60,000 and 62,000—no reversal signals have appeared.

I still believe the medium-term downtrend remains unchanged; short-term volatility cannot reverse the downward trend!
Evening reference: short at 62,200, target 60,200, stop-loss 1,000 points