Now the entire cryptocurrency market is sometimes positive and sometimes negative. The whole people are panicking. But have you ever thought that we have quietly stood on the threshold of the end of the bull market?

Many people are still immersed in the fantasy that the bull market is not over. Whenever the market picks up a little, they shout good news. In fact, it is more out of self-consolation for the investment that has already entered the market. But when we look at it from a more macroeconomic perspective, it is not difficult to find that the market is gradually stepping into the gentle trap of the bear market.

The PPI data in April was like a thunderclap, instantly destroying the fragile balance of the market, and the prices of BTC and many altcoins plummeted. The upcoming CPI release and a series of speeches by senior Fed officials including Powell have made the market nervous. More importantly, the echoes of the Trump era, and his remarks about not cutting interest rates before the election, have added a bit of policy uncertainty to the market.

The trend of inflation, the invisible driver of the global economy, is directly related to the fate of the crypto market. Before the US strategic goals are achieved, interest rate cuts seem out of reach. CPI, this seemingly cold economic indicator, has actually become a sensitive lever for policy regulation.

In the current high interest rate environment of 5.25%, crypto assets such as Bitcoin and Ethereum seem to be pulled by invisible forces, and their attractiveness is gradually weakened under the shadow of interest rates. The big bull market that investors are looking forward to seems to be getting farther and farther away. Only the dawn of interest rate cuts can bring a glimmer of life to this dark market.

If the Federal Reserve remains on hold in September and refuses to cut interest rates, then for the cryptocurrency market, it will undoubtedly be the darkest moment. Every fluctuation in the market is a test of faith and a deep insight into future trends. At such a moment, we should remain calm and rational, examine the market and plan for the future.

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