As night falls, the global financial market's attention is focused on a critical moment—the release of the latest Consumer Price Index (CPI) data in the United States. This important economic indicator will be unveiled at 8:30 PM, leaving investors holding their breath in hopes of gaining insights into the future direction of the market.

Recently, Nick Timiraos, known as the 'Fed's mouthpiece', made a surprising prediction: the core CPI could exceed 3.1%. This forecast is significantly higher than the market's general expectations, sparking widespread attention and discussion in the financial community.

If the CPI data released tonight exceeds expectations, it will send a strong signal to the market that inflationary pressures are continuing to rise. In this case, the market may anticipate that the Federal Reserve will adopt a more aggressive interest rate hike policy. In the face of uncertainty and potential economic risks, investors may seek safer investment options.

For the cryptocurrency market, this could mean a significant challenge. Higher-than-expected inflation data may lead investors to withdraw funds from high-risk assets and shift towards more stable investment areas. This flow of capital could put downward pressure on cryptocurrency prices, especially for some small- and medium-sized digital currencies, where the impact may be more pronounced.

However, it is worth noting that the cryptocurrency market's reactions may not completely follow the logic of traditional financial markets. Some investors may view mainstream cryptocurrencies such as Bitcoin as a hedge against inflation, which could offset some of the negative impacts to some extent.

Regardless, the release of tonight's CPI data will undoubtedly be an important moment for the cryptocurrency market and may have a significant impact on the short-term market direction. Investors need to closely monitor this data and quickly adjust their investment strategies based on market reactions.