Core CPI came in at +0.3% MoM, 2.6% YoY. Market expectations expected above 2.4-2.5%, but not this high. For context, Polymarket only priced 11% odds on this outcome, so it is definitely a hotter print than anticipated.
Obviously not what we wanted to see, but relatively muted reaction from stocks and crypto so far, which is encouraging. Perhaps an 80k retest on bitcoin:native but its looking like much of the downside was priced in.
Keeping an eye on the charts, looking for relative strength on alts