CPI came in lower than expected however the central bank is still tightening monetary policy. There is still unknown contagion effects from FTX bankruptcy. This spike is a good opportunity to take on a short
The biggest fraud in crypto just blew up and ETH is only down 25%? There is no way this does not have huge contagion effects to the rest of the market. Rumors about Gensis have been spreading, just like 3AC after the Luna crash.. it took a month for the market to catch up.
4th of May was the FOMC pump right before the Luna blowup. This was the last time the majority was bullish, unfortunately when we revisit this area will also be where everybody will turn bullish again after selling eth at $1k and $17k