The latest ECB staff projections reveal a concerning pattern—inflation is expected to remain below target for the next two years. This persistent undershooting of price levels signals that the central bank's monetary tightening cycle may not deliver the disinflation path originally anticipated. Such developments carry weight for crypto markets, as prolonged below-target inflation could influence expectations around future rate cuts and monetary accommodation. When traditional central banks face deflationary pressures, it often reshapes capital flows and asset allocation strategies across risk markets. The ECB's challenge in achieving its 2% target underscores broader macro uncertainty—and uncertainty typically drives investors toward alternative assets, including digital currencies. Market participants should monitor whether the ECB adjusts its forward guidance in response to these updated projections.