Gu Jingci: 7.15 CPI data boosts the move higher—how much longer can the market keep rising?

Bitcoin/Ethereum surged last night with the help of CPI data, climbing as high as around 65,100 and 1,897. Many people then started shouting that the bull is back and that there will be even more upside. Some even began waiting for the market to pull back so they could enter longs—little do they realize that either the pullback won’t give you a chance to enter, or if it does give you a chance, it will be a massive drop. The current trend is still bearish—and specifically bearish for a big sell-off. Why? First, CPI data reflects last month’s situation. Last month there was the U.S.-Iran negotiation, the geopolitical situation eased, and crude oil also fell sharply, so the data naturally came out supportive. What about this month? All “good news” is just mirage—everything gets rolled back to the original state. Today is the 15th; by the end of the month, it will still be chaos everywhere, and there may even be another major drop. By the end of the month, you’ll still be seeing 59,000 and 1,600.

Early yesterday morning, hold your short positions: BTC at 64,800, ETH at 1,875, and SOL at 77.5—just be patient and wait for the market to drop.

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