At 20:30 tonight, the CPI data for May will be released, which is an economic indicator that has significant implications for the global financial markets.

If the CPI annual rate falls below 2%, the market may interpret it as a signal of slowing inflation, expecting the Federal Reserve to accelerate the pace of interest rate cuts, which could trigger a wave of positive market sentiment.

On the contrary, if the core CPI data exceeds 2.9%, investors may worry about persistent inflationary pressures, leading to a strengthening of the dollar, and the cryptocurrency market may adjust accordingly, for example, Ethereum may pull back to the 2700-2750 range.

It is worth noting that there is often a possibility of reverse operations in the market: after favorable data is released, there may be a decline followed by a rebound (institutions may first clean up the market before building positions); while after unfavorable data is released, there may be an increase followed by a decline (luring purchases before a large sell-off).

Therefore, the second wave of market movement after the data release is more likely to reveal the true trend. Investors are advised to remain vigilant, carefully observe market reactions, and make reasonable judgments.