The Federal Reserve keeps amplifying the importance of this CPI release, further raising market concerns about liquidity. The prevailing wait-and-see sentiment is clearly intensifying, and overall liquidity has declined to some extent.

However, judging from the current performance of U.S. stock futures, the market has already priced in most of the expectations in advance. It is basically reasonable to assume that this CPI will most likely match market expectations. Of course, it’s also impossible to completely rule out a scenario where, after the data is released, the main players book gains on the news—then first dip lower to drive a quick shakeout, completing the sweep.

But at least from the current chart conditions, crypto hasn’t shown any clear intention to sell off. Price has remained in a small time-frame range-bound consolidation and washout rhythm. Meanwhile, the 3-day moving average line and the weekly K-line level are still maintaining a bottom divergence repair structure. Overall, it still lacks a solid, meaningful rebound to confirm this round of the previous high structure.

Therefore, focus on the 61,500—61,300 zone tonight: pull back to enter long. In addition, it’s even more important that the daily chart holds above 63,000!!!

Because once the daily chart holds steady, a big rebound will definitely begin. The only issue is that the Middle East powder keg has reduced liquidity, but it won’t affect the overall structure!