Didn’t expect what I was worried about last night to actually happen. Woke up this morning, and Bitcoin dropped again. The CPI-driven rally didn’t hold up. Take a closer look at the two strange phenomena I mentioned last night. They essentially reflect the fragile balance in the current market’s tug-of-war between bulls and bears. The selling pressure comes from the four-year cycle inertia + some whales being bearish + short-term holders cutting losses. Meanwhile, DAT’s limited financing ability + weak future expectations result in insufficient buying power overall.