The latest on-chain data shows a significant trend: a large amount of Tether (USDT) is leaving exchanges, while more than 15 thousand Bitcoin (BTC) is entering exchanges. Despite the recent sharp drop in BTC prices, selling pressure in the spot market remains high.

These factors could indicate a potential short-term decline in BTC prices. However, from a macroeconomic perspective, there are no catalysts that indicate a prolonged bearish trend after this short-term correction. Optimism towards BTC remains, despite the current market challenges.