Odaily Planet Daily News Bitfinex Alpha's latest report said that the current cryptocurrency market is in an uncertain state, with daily, weekly and monthly charts close to the lows of the range, and the low time frame also showing a downward trend. The total outflow of the US spot Bitcoin ETF last week reached US$544.1 million, which was related to the unwinding of the basis/financing arbitrage, but still exacerbated the negative sentiment. However, the report believes that the market is currently in a wait-and-see mode. In the short term, it will either continue to be under pressure from the excess sales of BTC and lack any catalysts to drive the rise; or with the approval of the ETH ETF, market sentiment will spark and trigger a new round of positive sentiment. At the macro level, the US economy shows signs of cooling, consumer optimism has declined, and a slowdown is expected in the second half of 2024. In addition, the market is optimistic about inflation, and the Federal Reserve's five-year forward-looking interest rate is close to the target.