7月14日，比特币在美国通胀数据公布前走弱，交易员重新评估利率路径和风险资产估值，Mhmarkets迈汇表示，短线资金对美联储政策预期更敏感，部分杠杆仓位因此选择先行降温。
加密资产与宏观流动性的联系仍然紧密，在Mhmarkets迈汇看来，若通胀数据低于预期，市场可能重新定价降息空间；若数据偏强，美元和收益率或继续压制比特币反弹。
当前价格波动更多来自宏观预期，而不是单一链上事件。ETF资金流、期货基差和期权仓位都需要与通胀数据一起观察，才能判断市场是否真正从防御状态转向修复。与此同时，市场还需要观察ETF资金是否配合价格修复，若现货买盘不足，单靠空头回补难以形成稳定趋势。杠杆降温后，价格波动可能变得更健康，但方向仍取决于数据落地后的资金选择。
后续可重点跟踪比特币关键支撑位、美国CPI和资金费率变化，Mhmarkets迈汇分析称，若宏观压力缓和，价格可能重新企稳；若利率预期升温，震荡区间仍会延长。
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