Rates, CPI, and the ongoing BTC chop

Watching the latest CPI print, it's pretty clear inflation isn't exactly rolling over as fast as some would like. This, coupled with the persistent hawkish rhetoric from central banks, means higher for longer is still very much on the table. It's difficult to see a sustained, powerful rally for $BTC when the cost of capital remains elevated and liquidity is being systematically drained.

I'm not saying it's going to zero, but the narrative that Bitcoin is somehow immune to macro pressures is just wishful thinking at this point. We saw how quickly things can turn with the rate hikes. My watchlist is still heavy on the sidelines for now, waiting for a clearer signal. The current chop, where we gain a few percent only to give it all back, feels like a liquidity trap for eager bulls. I'm keeping an eye on the broader market sentiment, especially how sectors like tech perform; if we see continued pressure on names like $MRVL, that typically doesn't bode well for risk-on assets either.