10x Research: After CPI Release, Bitcoin ETF Net Outflows Exceed $1 Billion, Market 'Inflation Trade' Sentiment Heats Up Again

Odaily Planet Daily News: Crypto research institution 10x Research stated that since the release of US CPI data on May 13, Bitcoin ETFs have seen cumulative net outflows exceeding $1 billion, with market sentiment for the 'inflation trade' heating up again. Market sentiment indicators have dropped from 87% to 45%. Meanwhile, long-term US Treasury yields continue to climb, with the 30-year yield rising to 5.12%. Inflation has once again become the market focus, and the crypto market is facing significant impact.

Furthermore, 10x Research claims its model has triggered a bearish signal for Ethereum. Bitcoin is currently testing the key support of the 30-day moving average. A confirmed breakdown could indicate further momentum deterioration. The institution is closely watching the short-term long/short demarcation level at $79,125 and the main support level at $76,922, suggesting that the bottom of this cycle may have already formed.