Last night, data released by the U.S. Bureau of Labor Statistics completely reversed market sentiment. Traders watched the screen shift from green to red in an instant, only to be reignited by a wave of new upward momentum—behind this is a quiet reshaping of the crypto asset value chain.

**The data is out, and the market is boiling**

The November Consumer Price Index (CPI) significantly exceeded expectations. The overall inflation rate increased by only 2.7% year-over-year, well below the market consensus of 3%. More importantly, the core CPI—excluding food and energy costs—dropped to 2.6%, the lowest level since early 2021.

No one expected it to be so "cool." The market had been waiting for October data, which was delayed due to the U.S. government shutdown, so this November report carried all the expectations and doubts accumulated over several months. The results surpassed even the most optimistic forecasts.

**Bitcoin responds accordingly**

Once the data was released, the market immediately began repricing the likelihood of a Fed rate cut. Bitcoin, known as "digital gold," responded most directly—rising from an intraday low near $86,000 to above $89,000. This is not just a numerical change but a clear signal of shifting market risk appetite.

**Deeper changes are happening**

What’s truly interesting is that, at a time when global liquidity expectations are shifting, a particular class of assets is being reevaluated: decentralized USD stablecoins. These assets, characterized by censorship resistance, transparency, and stability, are quietly increasing in strategic value. When traditional liquidity environments change, the appeal of this ecosystem begins to stand out.

The ghost of sticky inflation, which has haunted the market for over two years, is substantially dissipating. The core CPI falling back to levels from two years ago indicates that the fundamental issue has changed. For the entire crypto market, this suggests that a new pricing cycle may be forming.