Core CPI just printed 2.6% — hotter than the 2.5% estimate and above last month's 2.4%. Inflation's still sticky. Fed pivot narrative takes another hit. This matters for risk assets and $BTC liquidity flows. If the market was pricing in dovish cuts, today's number throws cold water on that. Watch how DXY and yields react — if they rip higher, crypto catches the bid down. Price doesn't care about narratives; it cares about liquidity. And right now, liquidity expectations just got squeezed.