Latest data shows that the PPI for fertilizer manufacturing has increased by 17.2% since July last year, and this is just the beginning. Meat prices are also not calming down: retail beef prices surged by 21.6%, and although the increase for chicken is smaller, it still rose by 1.6%. These seemingly unrelated commodity price fluctuations actually point to a key issue—food inflation may be making a comeback. What does this mean for the market? Real interest rates will be suppressed, which directly affects the liquidity allocation of risk assets like Bitcoin. Should you buy the dip or wait and see? The key is to keep an eye on the trend of fertilizer PPI, the price performance of protein commodities, and how the Federal Reserve will respond next.