The most important data recently is the Core PCE, and its significance has already been discussed.

The data release was in line with expectations: the year-over-year rate of Core PCE came in at 3.4%, slightly higher than the previous figure, but consistent with market expectations. Even though inflation has increased, this data is coming before the US-Iran conflict has ended, when inflation is rising due to disruptions in oil prices.

So personally, I think the 3.4% figure is still acceptable. After all, in May the average WTI oil price was still above $90; but now? It has already fallen below $70. If I’m not mistaken, the June CPI will start to decline, and by July and August, an overall downtrend in inflation is inevitable.

Under these circumstances, not to mention the Federal Reserve’s rate cuts, a rate hike is unlikely. Even if the market still has lingering worries, I believe that with the release of the mid-July CPI data, investor sentiment will shift from the rate-hike narrative.

At least for me, this Core PCE data is not a negative. Next, we’ll see how the market reacts. #BTC下探60000美元关键关口 $BTC ‌