Opinion: Crypto market response to economic data is rife with skepticism
On March 13, Adam, a macro researcher at Greeks.Live, published an article on the X platform that despite the positive CPI data (2.8%, expected 2.9%), the group is generally bearish on the short-term market outlook. Traders are focusing on key support levels near $1900 for Ethereum and discussing a possible bottom for Bitcoin, with some suggesting that the $60,000 level could be a downside target. Markets responded to economic data with widespread skepticism. The market quickly retreated the gains brought by good CPI data, with traders pointing out that "there are no positive factors for Americans"; some people believe that tariffs and inflation have a greater impact on the market than geopolitical events such as the Ukraine peace agreement; the general consensus is that the remaining weak chips need to be sold off before the upward trend resumes, indicating that the market panic selling has not yet ended; Ethereum has been described as "high-pressure junk" and despite the overall negative sentiment, it still has potential to rebound; some traders plan to temporarily withdraw, opting to "wait 5 years and gradually accumulate" rather than actively trading the current market environment.
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