Although the release of CPI data yesterday was seen as a positive message on the surface, it triggered a fall in BTC prices against the trend. Behind this scene, there are actually complex emotions and rational judgments of the market's deep concerns about the US economy.
The positive interpretation of CPI data brings warmth to the cryptocurrency market, but the shadow of the US economic slowdown and even recession reflected behind it instantly cools the market's optimism. People began to reflect deeply that although this data seems optimistic, it actually reveals a signal of insufficient economic growth momentum, foreshadowing the various challenges and uncertainties that may be faced in the future.
In this context, the mentality of many people has quietly changed, from the initial expectations and aspirations to deep concerns about the future development of the market. They realize that the economic recession will not only affect the stability of the traditional financial market, but may also affect the relatively emerging and highly sensitive market field of cryptocurrency. Even if the CPI data brings a short-term positive halo, it is difficult to cover up the pessimism that permeates the deep market.
So we saw the irrational decline in BTC prices, which is not only a direct response of the market to the current economic situation, but also a collective venting and escape from future uncertainties. In this battle without gunpowder, every number jump touches the hearts of countless people, and the fluctuation of BTC price has become the most intuitive barometer of market sentiment.
