Judging from the CPI data released so far, apart from the fact that the broad CPI has declined, it is either within expectations or exceeds expectations. Although everyone is looking at the broad CPI, the Federal Reserve is not. Although it is not clamoring to raise interest rates in December, It is already obvious that a rate cut in the first quarter of next year is unlikely. In fact, it is not only the first quarter, but also the second quarter that is at risk.

For the currency circle, the most direct impact is that the water release cycle may be delayed. In this case, if the#Bitcoinspot ETF passes in the first quarter of next year, then there is a high probability that this bull market will also be a double top, unless it is The United States has entered a severe economic recession, otherwise it will be difficult for the water release cycle to match the climax of the halving, which is the time period of the US election. #AVAX #BTC