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Today, during trading hours, the Bitcoin market did not break through a clear range. After touching a low of 118035 in the early morning, it rose to a high of 119270 at midday but encountered resistance, subsequently consolidating within that range. In contrast, Ethereum showed a fluctuating upward trend in the morning, starting from a low of around 4187 and climbing steadily, reaching a high of around 4330 at midday. The current market is fluctuating repeatedly between the middle band and the lower band, with significant resistance to breaking through the middle band. However, relying on support from the lower band, there has yet to be a substantial fall. The US CPI bomb will explode tonight! The CPI data tonight is crucial, and close attention should be paid to market changes. The strategy remains to take low long positions; if it breaks down, then we will change our approach.
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Is there a long and short squeeze on the eve of CPI? Data indicates that the market expects core inflation to moderately rebound, and there is a hawkish-dovish standoff within the Federal Reserve! The possibility of a rate cut in September has decreased, and the market is repeatedly speculating about a rate cut by the Federal Reserve, with the key being that the rebound in inflation also suggests that the U.S. economy is becoming increasingly sluggish! Trump just fired the BLS director, and this CPI report is likely to become the "most controversial data in history"! If the White House publicly questions its authenticity, the market will instantly fall into a "crisis of trust," and Bitcoin may become the only safe-haven asset! The market will definitely be volatile regarding tonight's CPI data!