#美国消费者物价指数发布在即 CPI arrives as expected, and the rate cut window is not closed yet—this is the direct reason why Bitcoin has recently risen.

The U.S. Bureau of Labor Statistics just released the December Consumer Price Index, with a year-over-year increase of 2.7%, fully in line with market expectations, and little change month-over-month. This data carries two good news messages: first, there are no signs of inflation rebounding (otherwise the Federal Reserve would have to continue raising interest rates), second, there has been no significant decline. This stable state has reassured the market. Investors generally expect a 97% probability that the Federal Reserve will keep interest rates unchanged at the January meeting, meaning the risk of further tightening monetary policy has disappeared, giving risk assets a breather.

More dramatically, Federal Reserve Chair Powell was suddenly subject to a criminal investigation by federal prosecutors, and the Department of Justice has even subpoenaed him. Once this news broke, market risk aversion sentiment exploded instantly. This upheaval within the traditional financial system raises concerns about whether the Fed’s independence has already been eroded by political factors. Against this backdrop, investors are beginning to seek assets that are not directly controlled by the government. Bitcoin, as "digital gold," possesses censorship resistance, and its safe-haven halo has been reactivated, with safe-haven funds continuously flowing in.

In addition to these macro factors, on-chain data also reflects that bulls are starting to gather strength:

**ETF funds have warmed up**—Previously, Bitcoin spot ETFs experienced continuous net outflows, but as prices stabilized and negative news faded, the pressure of fund outflows has significantly eased, even showing signs of inflow.

**Key support levels are playing a role**—The range between $90,500 and $91,200 has formed a strong support zone, with high buying activity. This round of rebound directly broke through the short-term resistance at $92,000, and the bulls’ attack strength should not be underestimated.

$BTC