The expected inflation rate of the United States in May is 3.2%, and the announced value is 3.5%.
High inflation -> delayed interest rate cut expectations -> Bitcoin falls
Low inflation -> advanced interest rate cut expectations -> Bitcoin rises
In addition to macro data, we must also keep an eye on the Nasdaq. For example, the trend of Bitcoin yesterday and today basically coincides with the Nasdaq minute level, especially when there is no independent narrative, the volume shrinkage is more obvious.
Macro data -> Nasdaq -> Bitcoin with technology stock attributes -> general direction of the currency market