CPI is coming again. This time, the data will determine the Federal Reserve's next move and influence the overall sentiment of the crypto market. Historical experience shows that high inflation expectations tend to push up real interest rates, putting significant pressure on risk assets; conversely, cooling inflation gives assets like Bitcoin and Ethereum a breathing space. The key is how market expectations will adjust. Before and after the data release, don't just look at the numbers themselves; pay more attention to the capital flows on exchanges and sentiment indicators — these are the true market thermometers.