US May PPI exceeded expectations, and coupled with initial jobless claims data, the market is overall leaning cautious. Stubborn inflation has a longer-lasting impact, and employment data is just a temporary relief; Bitcoin's short-term bounce may not hold. After the data release, Bitcoin found support around 628 and bounced back, but there's clear selling pressure in the 630-632 range, which is the key battleground tonight. If it can't hold above 632, the bounce is likely just a 'head fake', with bears still in control and a pullback risk being significant. The evening strategy remains unchanged.
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