Wu Shuo learned that, according to XWIN Research Japan analysis, the US CPI year-on-year rose to 3.3% in March 2026, with inflation rising again, also changing the market's understanding of BTC pricing. However, the organization believes that this round of inflation is more driven by supply shocks such as rising oil prices and supply chain disruptions, rather than overheating demand. In this environment, BTC can no longer be simply viewed as an inflation hedge; its price is more influenced by real interest rates, the dollar, liquidity, and overall demand changes. Despite inflation remaining relatively high in 2026, BTC actually weakened, which also indicates that Bitcoin is truly trading on the transmission chain of "inflation → monetary policy → liquidity → demand," rather than inflation itself.