Analyst Gu Jingci: The CPI data will be released in the evening, and the market needs to be closely watched.

Bitcoin/Ethereum quickly dropped from yesterday morning and then quickly rebounded, and is now in a period of horizontal oscillation. Pay attention to the impact of the evening CPI data on the cryptocurrency market. If the data is higher than expected, inflation is higher, which is bearish for the overall cryptocurrency market. CPI above 3.6%, core CPI monthly rate above 0.2%. Inflation rebounds, the market will lower the expectation of interest rate cuts, or even re-price interest rate hikes. The US dollar strengthens, US Treasury yields rise, and funds leave high-volatility cryptocurrencies. BTC, ETH are likely to fall rapidly, with large short-term selling pressure and sharp volatility.