Overheated sentiment has eased, and the market outlook remains bullish

The US CPI data released last night was in line with market expectations, easing market concerns about the end of interest rate cuts in December, pushing $BTC above the $90,000 mark. The selling of profit-taking in the early morning caused $BTC to fall below 90,000.

However, the current trend of $BTC is still relatively healthy. As long as it does not fall below the support level of 86,000, the upward pattern will not be destroyed.

The volatility in the past two days has also significantly cooled the overheated market sentiment. Binance USDT lending rate has dropped from a high of 50% on the evening of the 12th to below 15%. The funding rate of mainstream coins has also returned to normal, but the funding rate of some altcoins is still slightly higher.

The funding side continues to give positive signals. The supply of stablecoins has accelerated, and the supply of USDT has increased by 2.6 billion in the past two days; funds are also continuing to flow into CEX in large amounts. ETFs are also actively buying, with a net inflow of $510 million in Bitcoin ETF and a net inflow of $147 million in Ethereum ETF yesterday.

There is no need to be too pessimistic about altcoins. Although altcoins generally fell in large volume the day before yesterday, this decline may be just a shock. Some altcoins ($ALT $ltc $not, etc.) have already broken through the high point of the day before yesterday.

Overall, the current macro, sentiment and capital aspects have given relatively positive signals, so continue to be bullish on the market.