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🔥 CRYPTO AND THE MACRO SPIRAL US PPI higher than expected, rising oil prices make the market cautious about Fed policy. $BTC is under pressure, while $ETH and $SOL show divergence. Chain of effects to watch: Oil ↑ → inflation ↑ → interest rate expectations ↑ → USD/yields ↑ → crypto under pressure. CPI and the upcoming Fed meeting will be the focus. Crypto is increasingly sensitive to macro flows, no longer moving independently.