Yesterday, the market exhibited a clear one-sided downward trend, with Bitcoin once dropping below the critical integer level of 80,000, but was quickly pulled back by funds, indicating that there is still some buying support below. However, in comparison, the performance of altcoins is significantly weaker, with prices having returned to the range near the recent surge, which means that the previous upward space is being gradually consumed, and some cryptocurrencies are showing signs of "profit taking."

From a macro perspective, the market currently faces intertwined short-term bullish and bearish factors. The U.S. April CPI data set to be released tonight will directly impact market expectations for the Federal Reserve's subsequent interest rate cuts, while changes in geopolitical aspects such as high-level meetings between the U.S. and China are continually increasing market uncertainty. Short-term market sentiment will be more easily driven by news events, and volatility may further amplify.

However, from an overall structural view, the current market pullback can still be regarded as a normal correction within the trend. Bitcoin still shows significant support below key positions, indicating that the market has not yet entered a genuine trend reversal stage. It currently resembles a chip exchange and sentiment release at high levels, and future observations should still focus on the defensive strength of key support areas and the capital feedback after macro data is released.

This article is originally published by 【Huiying Community】 and represents personal views only. Due to certain delays in information transmission, the content is for reference only and does not constitute any investment advice. Please make rational judgments and operate cautiously.
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