Does this feeling sound familiar? It is similar to the situation last week. The market has gone through a circle and seems to have returned to the starting point. Last week, there was the impact of the non-agricultural data. Although it did not bring much movement to the market, this week is the CPI. Are you still looking forward to it?

Currently, BTC is around 29,200. In the early morning hours, BTC began to fall rapidly to around 28,700, but then rebounded. The successive rises pushed the BTC price to around 29,200 again, triggering volatility. However, the recent daily trading volume has continued to decrease, and the Asian time zone seems to be less interested in BTC trading, causing market liquidity to decline again.

The market is currently in a state of low liquidity, which makes market manipulation easier to achieve. At the same time, the recent sharp fluctuations in altcoins have also prevented many retail investors from actively participating in transactions, exacerbating the decline in market liquidity.

In terms of the overall trend, the 29,000 down channel has been fully opened, and it is only a matter of time before the market falls. Yesterday's decline caused some long positions to be closed, but the reaction of long holders was not fierce, and the price remained near 29,000. According to the actions of long holders, the 29,000 position has become precarious. Yesterday's decline successfully tested the support near 29,700 and rebounded, showing the determination of the downward trend. At present, it seems that the two recent declines have been lower each time, which seems more like a tentative decline rather than a bottoming out.

In terms of the entire financial market, the U.S. stock market has performed well recently, but this has caused some people to doubt whether the U.S. stock market will continue to fall this week. The U.S. stock market fell as soon as it opened yesterday. The reasons for the decline are mainly two aspects: one is that the interest rate of U.S. Treasury bonds has continued to rise, exceeding the high in recent years, attracting investors to turn to U.S. Treasury bonds, thereby gradually weakening the U.S. stock market. Another reason is that the U.S. economic situation and inflation rate are currently the most sensitive data for the U.S. stock market. Recently, the U.S. stock market has shown a high sensitivity to changes in the U.S. inflation rate and economic strength. This week's CPI data may directly affect the violent fluctuations of the U.S. stock market.

As for traditional American financiers, they have recently published articles claiming that the US economy is in good condition, and even believe that the US economy will not decline in the next two years. However, behind this unanimous optimism may be hidden the deep concerns of bankers. The United States has been raising interest rates to reduce inflation for a long time, but this may also have a negative impact on the overall economy and may conflict with the interests of bankers. The recent US interest rate hike issue and the remarks of financiers show that the conflict of interests between politicians and financiers is gradually escalating.

In the crypto market, many influencing factors have emerged recently, including the Huobi incident and the aftermath of CRV. There are also rumors that the domestic crypto market has intensified its crackdown, and the United States has also begun to regulate stablecoins. This round of bull market may usher in the participation of the US government and financial institutions. They may no longer be just participants, but may become the controllers of the market. It is worth noting that Tether is currently one of the important holders of US debt, which may affect their attitude and actions.

The downward channel of 29000 has lasted for more than a week, and the market continues to be sluggish. The current position is not suitable for buying spot goods, so wait until the market falls a little more! The idea of ​​shorting at high levels is still in the Netherlands and New York. According to the overall market conditions, the position of 29500 is the most suitable for shorting, but this position is difficult to reach, so it is better to observe it for a while!