Central bankers at the European Central Bank are growing uneasy. Here's the real concern: if inflation keeps undershooting targets for much longer, markets might stop believing in the bank's ability to keep price growth anchored.

Sounds technical? It is. But here's why it matters. When inflation expectations untether from the ECB's actual targets, everything gets messier—currency markets move, bond yields swing, and crypto traders adjust their hedge positions. Basically, once people stop trusting the official narrative on inflation, all bets are off.

The fear is straightforward: sustained undershooting isn't just a number problem. It's a credibility issue. If inflation keeps running cool while the ECB signals it wants higher growth, that mismatch creates uncertainty. And uncertainty? That's when capital moves around looking for alternatives—sometimes straight into digital assets.

This is the kind of macro headwind that traders watch closely.