**Analysis of Bitcoin’s “good news but not rising” phenomenon: Market changes after the release of CPI data**
After the CPI (Consumer Price Index) data was released, Bitcoin briefly rose but then fell back quickly. This situation reflects the possible operation of big money behind it. The following is an analysis of the potential reasons for Bitcoin’s “good news but not rising”:
1. **Advance digestion of market expectations**
Before the CPI data was released, Bitcoin had already experienced a certain degree of rise, which showed that market participants had anticipated the positive CPI data and made arrangements in advance. After the data was released, the good news had already been reflected in prices, and there was insufficient motivation to further push prices up.
2. **The capital side’s strategy of attracting more investors**
Big funds may attract more retail investors to enter the market by pushing up prices before the CPI data is released. As the price briefly rose after the data was released, this strategy may have attracted more chasing funds to enter the market. However, the funds then sold off, causing the price to fall back quickly, thereby realizing profits in the short term.
3. **Profit taking after the benefits are realized**
Despite the positive CPI data, some investors chose to take profits after the news materialized, which led to short-term selling pressure. "Buy expectations, sell facts" is a common strategy in the market, that is, buying when good news is expected and selling after good news is announced.
4. **Market Sentiment and Technical Factors**
Market sentiment can shift quickly following the release of data, especially in the current highly volatile market environment. In addition, technical resistance levels (such as 62500) may suppress further price increases in the short term, causing prices to fall back.
5. **Macroeconomic environment and market liquidity**
Although the CPI data is positive, other macroeconomic factors (such as the Federal Reserve's monetary policy, international geopolitical risks, etc.) still have an impact on the market. When markets are illiquid, even good news may have trouble sustaining price increases.