CPI came in hot - here's what it means for crypto
CPI 3.1% vs 2.9% expected. Core CPI 3.3% vs 3.1% expected. Both hotter than expected.
Immediate reaction: BTC dumped 4% to $94k. Classic knee-jerk.
But here's the thing - the market already priced in rate cuts. A hot CPI means:
1. Rate cuts delayed → short-term bearish
2. But inflation = hard assets narrative → mid-term bullish for BTC
3. Dollar might strengthen → watch DXY
I'm buying this dip at $93-94k. If $92k breaks, I'm out.
Remember: the best trades feel the most uncomfortable.