The recent performance of the US stock market is concerning, with three consecutive trading days of declines, which has weakened the sentiment in the Crypto Assets market. Although the drop is relatively limited, the underlying logic warrants caution. On Tuesday, Fed Chairman Powell pointed out that "stock valuations are too high," leading to a corresponding drop in the market; on Wednesday, the unexpectedly large rise in US new home sales data, which is typically considered a secondary indicator, triggered a new wave of selling; on Thursday, initial jobless claims fell to a new low for the year, similarly classified as important data, yet the market continued its downward trend. The key point is that positive economic data has actually led to a market decline. The current market has entered a "good news is bad news" narrative mode—strong data indicates that the Fed lacks an urgent reason to cut interest rates. The PCE price index released tonight at 20:30 is particularly critical and should not be underestimated.

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The economic data released tonight will set the tone for the Fed's interest rate cut path, affecting market fluctuations, and assets like Bitcoin will also face tests. 20:30 PCE inflation data: rate cut frequency core - as the Fed's core inflation indicator, PCE directly determines whether there will be 2 or 3 rate cuts this year. The market expects a moderate rise; if it meets or exceeds expectations, the tone of 3 rate cuts within the year will remain unchanged, and the market is expected to rebound; if it exceeds expectations, it may trigger concerns about rate cuts. Although there are speculations of "poor data or being beautified," the official results should prevail, and investors will adjust strategies after the data. 22:00 Consumer confidence and inflation expectations: the cornerstone of confidence - the consumer confidence index is the foundation of optimistic sentiment in the capital market, and the market expects it to remain flat. Meeting expectations will consolidate confidence and help the market rebound; if it declines, it may break the optimistic atmosphere and trigger a chain reaction of assets. The one-year inflation expectation index is also key, affecting consumption decisions and Fed policies, and must be combined with PCE for comprehensive judgment.

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Let's discuss the layout of the crypto market's overall performance and short-term details in the Yibo live broadcast room.