December US CPI data came as expected, and this news directly boosted market expectations for the Federal Reserve to start cutting interest rates in April—probability has risen to 42%. Economic data slowing down may lead the Fed to change its stance, which is clearly beneficial for the attractiveness of crypto assets. A rate cut cycle usually means liquidity easing, and historically, risk assets tend to perform well during such periods. The key now is to watch how subsequent employment data and inflation trends will unfold.