Core at 0.2% MoM came in below consensus — that's the print that matters, not the energy-juiced 3.3% headline. BTC still sitting 43% below the $126K ATH with the Fed pinned at 3.50-3.75% and one lonely dot-plot cut penciled for all of 2026. Iran ceasefire bought some CPI relief by pushing oil sub-$90, but $73K looks like a local range top until core strings together multiple clean prints and actually forces the Fed's hand.

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