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Now, in the cryptocurrency world, good news for the U.S. stock market is bad news for it, and bad news for the U.S. stock market is a black swan event for it. This crypto world is just too terrifying. What kind of news can actually excite you? CPI and PPI were released together, and the signals of cooling inflation are clear enough. In July, the year-on-year CPI was 3.4%, and the core CPI was 2.5%, both exceeding the threshold. The PPI remained flat month-on-month, and the year-on-year growth rate dropped from 5.5% to 4.7%. According to the classic script, the probability of a rate hike should decrease, and risk assets should rise. CME data also confirms this—the probability of a September rate hike has dropped from 40% to 32%. But the market cracked. In the cryptocurrency market, Bitcoin ($BTC) is still hovering around $64,000, now almost as stable as a stablecoin. It briefly surged before the news was announced, but immediately dropped after the news was released. What about Ethereum? $ETH has been fluctuating between 1,870 and 1,890. It surged briefly after the data came out but then dropped. Over the past 24 hours, more than 60,000 people have liquidated their positions, and ETF funds haven't flowed back in. 1,900 has become the short-term ceiling for ETH. The U.S. stock market is showing a completely different trend, with SanDisk dropping 10 points to 1,550, while SK Hynix surged over 7%. The same data, two worlds. This is not something that economics can explain. The Federal Reserve is in such a heated debate—Harker calls for a rate hike, Kaplan says wait and see—on the surface, it's a disagreement over data, but behind it, two political forces are wrestling. Whether to raise rates in September depends on economic data, but only half of the decision. The crypto market is stuck in an awkward position. Inflation has decreased, and the probability of interest rate hikes has also decreased, so theoretically, prices should rise, but funds are not moving. This is because the market is looking for a "$BTC