Although CPI data is good, the economy shows signs of contraction The latest US CPI annual rate is lower than expected, indicating effective inflation control, but the monthly rate turning negative indicates that the economy is starting to contract, which is not an ideal signal. The reason why the Federal Reserve pursues 2% inflation is also due to this, which is to prevent deflation and stabilize growth. The suspension of tariffs is just a breath, not a reversal signal Although the 10% basic tariff on China has been suspended for 90 days, its impact remains heavy. The current level of US tariffs is four times the average in 2024, and the Federal Reserve is still in a tightening cycle. The market lacks fundamental support for trend reversal. Bitcoin investors' emotions remain stable, with no signs of panic in on chain data Although BTC prices have fallen today, on chain data shows that high-level chips are still strong, and the main force for short-term turnover is recent investors. Old users, early holders, and even floating losses have not shown significant selling pressure. The key to the future market still lies in when monetary policy returns to loose and whether the economy avoids a deep recession, which will determine whether Bitcoin moves from a rebound to a true reversal trend. This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex