An important factor influencing price action in recent months has been US macroeconomic data, with uncertainty about the future of US monetary policy influencing investors' risk appetite. This time, GDP, initial unemployment claims data, and inflation data (PCE) are expected, which are expected to dominate market sentiment in the short term. However, what is important is that futures funding rates have turned negative and are at the support line on the MVRV indicator. Bitcoin's current structure suggests a possible local bottom.
