The inflation data for the euro zone has just been released and there are no surprises: the year-on-year core CPI for November remained at 2.4%, exactly what the market expected.

This indicator, which excludes energy and food (the most volatile), remains stuck at that level since last month. It neither rises nor falls. For those of us closely following these numbers, it means that inflationary pressure in Europe is not easing as much as some hoped to see.

Now, what does this imply for the crypto markets? It means that the ECB will likely maintain its cautious stance on interest rates. And when central banks do not ease up, risk assets ( like Bitcoin and company ) tend to feel the pressure.

Key data: 2.4% remains above the European Central Bank's target of 2%. As long as that gap exists, do not expect sharp turns in monetary policy.