The US December CPI year-over-year increased by 2.6%, showing a slight decline compared to the previous month, slightly below market expectations. This indicates that inflation is still gradually easing. From the Federal Reserve's perspective, there is still room for dovish operations, and the expectation of rate cuts this year has been reinforced rather than weakened. For the crypto market, this essentially stabilizes the main logic of rate cuts, and the bottom line of bullish fundamentals has not been broken. On the BTC side, the pressure from interest rates has significantly eased. The macro-level support effect is gradually becoming apparent, effectively reducing Bitcoin's downward space. Overall, the market structure is becoming more stable.