The CPI data was released far below the prior reading of 4.2%, and inflation has cooled sharply. With inflation continuing to fall, expectations for further Fed rate hikes have dropped significantly; US Treasury yields and the US dollar index are under pressure and moving lower. Funds are flowing into gold and risk assets such as BTC, and the medium-term long side environment is improving.

Later tonight there will be the Waller hearing. If Waller’s remarks are hawkish, they may offset part of the upside momentum; the price action may spike up and then fall back, so you shouldn’t blindly chase longs. On the 4-hour MACD on the larger timeframe, it is still arranged bearishly, meaning this is a rebound-and-repair trade. Don’t take outsized long positions for the long term; if Waller speaks tonight and there are uncertainties, take profit and reduce the position promptly, and strictly use stop-losses. #Gate6月透明度报告