Recently, U.S. economic data has triggered market fluctuations, particularly the unexpected rise in the Producer Price Index (PPI) for July, which has caused significant震动 in the market. The PPI rose 3.3% year-on-year, greatly exceeding the expected 2.5%, and also far higher than the previous value of 2.3%. As an important inflation indicator, the PPI, along with the CPI, has become a key economic barometer closely monitored by the Fed.

The release of this data immediately affected the market's expectations of Fed policy. Although the probability of a rate cut in September remains high, investor sentiment has clearly become more cautious. Previously, the market generally believed that regardless of economic data, political pressure would drive the Fed to cut rates. However, the Fed's independence seems to be stronger than expected. If inflation continues to rebound, hastily cutting rates may trigger political controversy.

It is worth noting that the current PPI data comes from the U.S. Bureau of Labor Statistics, but the bureau is currently led by an acting head, and the newly nominated director has not yet been approved. This somewhat increases the complexity of interpreting the data. Additionally, before the Fed's interest rate meeting in September, key economic indicators such as retail sales and CPI will also be released, which will further impact market expectations.

For the cryptocurrency market, especially Bitcoin, this macroeconomic backdrop may bring short-term fluctuations. If the market rebounces weakly, Bitcoin may test the support level of 112,000. If it continues to decline, recent highs may become short-term tops, and the market may enter an adjustment phase.

In this situation, investors should remain vigilant and closely follow subsequent economic data. For traders, strict risk control is essential; whether going long or short, stop-loss orders must be set to avoid emotional trading. Although the market changes rapidly, trading discipline should not waver. The fluctuation of inflation data is just a fragment of the market's long-term evolution, and real opportunities belong to those investors who can calmly wait and act at the right time.