US CPI coming in slightly hotter than expected – my $BTC take

Just saw the CPI print; core came in at 0.4% MoM, a tick higher than consensus. Not a disaster, but definitely not disinflationary enough to give the Fed much comfort. This inevitably feeds into the 'higher for longer' narrative, and we're seeing bond yields react accordingly.

For $BTC, this is a headwind. The rate-sensitive nature of risk assets, especially those further out on the risk curve, means sticky inflation translates to continued pressure from the discount rate. It doesn't outright break the bull case, particularly with halving narratives still in play, but it certainly limits immediate upside. My watch list is still long-term bullish, but I'm adjusting for potential chop and less aggressive short-term accumulation. Will be watching the $DXY closely for further clues.