[Wintermute: CPI Data and the 'CLARITY Act' Are Key Events for the Crypto Market This Week] Foresight News reports that Wintermute tweeted that the current phase of the crypto market is more about consolidation rather than selling off. Cryptocurrencies have lagged behind in a week of risk-on sentiment, and ETF fund flows have reversed. Nevertheless, the $89,000 to $90,000 price range remains stable, leverage has been cleared without triggering forced liquidations, and trading volumes remain healthy. Price movements do not indicate a sell-off. A sell-off would be characterized by selling pressure during rebounds, lack of buying support, structural deterioration, and the exit of smart money. This looks more like tactical rotation: taking profits during strength, readjusting positions, and capital waiting for the next entry opportunity. The bottom has been repeatedly tested and consistently held. The context supports this interpretation. Morgan Stanley's internal ETF application, Bank of America opening advisor recommendations, and the upcoming vote on the 'CLARITY Act'—these are not actions taken at market tops. Even with short-term fluctuations in capital flows, 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 Act would remove long-standing pressures. This should be enough to push us out of this range. The risk lies in CPI data coming in too hot, which would keep the Federal Reserve on hold. But even so, the bottom still feels solid. Once the macro environment aligns, the structure is favorable for price increases.