Thoughts on BTC and the recent CPI print

The latest CPI print came in a bit hotter than anticipated, and frankly, I'm finding it hard to shake the feeling that it's going to put continued pressure on the Fed to maintain a hawkish stance for longer than some had hoped. For $BTC, that typically translates to headwinds, as higher rates tend to make riskier assets less appealing in relative terms. I'm watching the on-chain metrics closely, particularly the longer-term holder behavior, but for now, my bias remains cautious. It's not a conviction short by any means, but I'm certainly not looking to add significantly until we get a clearer signal on the macro front, especially with how quickly narratives can shift. Still keeping an eye on the liquidity landscape, of course, but the immediate reaction seems to be 'brace for longer higher.'