Foresight News reports that Wintermute tweeted that the crypto market at this stage is more about consolidation than selling off. Cryptocurrencies have lagged in the risk-on rally over the past week, and ETF capital flows have reversed. Nevertheless, the price range of $89,000 to $90,000 remains stable, leverage has been cleared without triggering forced liquidations, and trading volume remains healthy. The price trend does not indicate a sell-off. A sell-off is characterized by selling during rebounds without buy support, deteriorating structure, and smart money exiting. This looks more like tactical rotation: taking profits during strength, readjusting positions, and capital waiting for the next entry opportunity. The bottom is constantly tested and remains resilient. The background supports this interpretation. Morgan Stanley has applied for an internal ETF, US banks are opening advisor recommendations, and the CLARITY Act is about to be voted on. None of these actions are taken at the top. Even if short-term capital flows fluctuate, patient capital is accumulating.
CPI and the CLARITY Act are the key factors this week. Weak data could make rate cuts possible, and the passage of the bill will eliminate long-standing pressures. This should be enough to break through this range. The risk is that hot CPI data could keep the Fed on hold, but even so, the bottom still feels solid. Once macro conditions align and the structure favors price increases.
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