Currently, market sentiment is generally pessimistic, with expectations that the US CPI will rise to 2.7%. If this prediction comes true, it may not have a significant positive impact on the market; however, if the CPI is lower than expected, it could bring a substantial boost to the cryptocurrency space.
Despite Bitcoin's poor performance recently, even showing a bear market-like decline, it is worth noting that Wall Street's ETFs are still actively increasing their positions, viewing the current pullback as a good opportunity to buy the dip rather than a signal that the market has peaked. Therefore, we should not make hasty judgments about the current market conditions.
This drop is actually aimed at clearing leveraged funds from the market, and after a period of consolidation, the market still has the potential to continue rising.
