CPI credibility is limited, and the cryptocurrency market focuses on liquidity expectations.
Tonight, the U.S. November CPI will be announced. Due to the previous government shutdown and holiday factors, the data collection period for this inflation data has been significantly shortened and highly concentrated, making it difficult to fully reflect the inflation trend. The market expects the November CPI to be about 3.1% year-on-year and the core CPI to be about 3.0%, but many institutions remind that the reliability of the data is questionable, and tariff factors still pose potential upward pressure on commodity prices, so interpretations should be cautious.
Against the backdrop of distorted U.S. data, the UK entering a rate cut, and Europe leaning towards a neutral but hawkish stance, the global monetary policy divergence is becoming more apparent. For the cryptocurrency market, short-term fluctuations will more likely come from macro expectation differences and liquidity pricing, rather than from a single data point itself, and close attention should be paid to the trend of the U.S. dollar and changes in risk asset sentiment.
