There is a major bombshell set to explode tonight at 21:30—the official release of the US CPI data. The entire market is watching one number: 2.7%. How critical is this level? It directly determines the upcoming market rhythm.

If the CPI falls below 2.7%, expectations of rate cuts will intensify, which is definitely positive for risk assets, and the crypto market is likely to see an upward trend. If the data stabilizes above 2.7%, then the opposite happens— the Federal Reserve will appear more hawkish, and the market may face pressure to pull back. There is also a third possibility: the figure lands precisely around 2.7%, meaning both bulls and bears will continue to compete, and the market will remain volatile, with no decisive direction.

In plain terms, tonight's data will be a watershed. Before the results are out, all traders should buckle up, because volatility is inevitable.