The latest US Consumer Price Index just came out, with a December year-over-year increase of 2.7%, fully in line with market expectations, and no change month-over-month. This data neither shows signs of inflation rebounding (otherwise the Federal Reserve would consider raising interest rates) nor a significant decline, representing a neutral "mild" performance. As a result, the market has reached a consensus: the Federal Reserve is highly likely to hold steady at the January meeting, with a 97% probability of not touching interest rates. The risk of monetary tightening has dissipated, giving risk assets like Bitcoin an immediate breathing space.

In addition to the positive inflation data, another piece of news has become a key catalyst. Federal Reserve Chair Powell is under criminal investigation by the U.S. federal prosecutors, an unexpected black swan event. The judiciary has summoned him, sparking market concerns about the independence of the Fed—has political interference already extended into the sacred territory of monetary policy?

In the face of this uncertainty, smart capital is beginning to seek escape routes. Bitcoin, known as "digital gold," with its censorship-resistant properties, has become an ideal choice for avoiding political risks. Safe-haven funds are flowing in, directly pushing up this oldest crypto asset.

On-chain data also confirms this. Bitcoin ETF experienced consecutive net outflows previously, but recent capital outflow pressures have significantly eased, even showing signs of inflow. This indicates that institutional investor sentiment has reversed.

From a technical perspective, Bitcoin has established solid support in the $90,500-$91,200 range, with strong buying interest. Today's rally directly broke through the short-term resistance at $92,000, forming a breakout trend. The bulls' strength is building.