View: Crypto markets’ response to economic data is a prevalent sentiment
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On March 13, Greeks.Live macro researcher Adam posted on the X platform that although the CPI data is positive (2.8%, expected 2.9%), the group generally has a bearish attitude towards the short-term market outlook. Traders are focusing on key support levels near Ethereum $1,900 and discussing possible bottoms for Bitcoin, with some proposing that the $60,000 level could be a downside target.
The market's reaction to economic data is that skepticism prevails. The market quickly gave up the gains brought by good CPI data, and traders pointed out that "there are no positive factors for Americans anymore"; some people believe that tariffs and inflation have a greater impact on the market than geopolitical events such as the Ukrainian peace agreement; the general consensus is that before the upward trend recovers, the remaining weak chips need to be sold out, indicating that the market's panic selling has not yet ended; Ethereum is described as "huge pressure garbage", and although the overall sentiment is negative, it still has rebound potential; some traders plan to temporarily withdraw and choose to "wait for 5 years and gradually accumulate" instead of actively trading the current market environment.