Gu Jingci: Pay close attention to the impact of the 8:30 PM CPI data on the cryptocurrency market.

1. Higher-than-expected CPI (overheated inflation) = Negative for the cryptocurrency market: inflation rebound, delayed Fed rate cuts or even restarted rate hikes, stronger dollar, rising US Treasury yields, increased opportunity cost of holding non-interest-bearing cryptocurrencies, risk capital flight, rapid short-term decline in BTC and ETH, and even larger drops in altcoins. 2. Lower-than-expected CPI (cooling inflation) = Positive for the cryptocurrency market: continued decline in inflation, significantly increased probability of a September rate cut, weaker dollar, looser liquidity, increased risk appetite, capital inflow into the crypto market, rapid rise in BTC and ETH, easily triggering a short squeeze. 3. CPI exactly in line with expectations = Neutral, narrow range fluctuations with no expectation gap, funds on the sidelines, short-term up-and-down fluctuations, quickly returning to the original trend, limited volatility.