Last night, Bitcoin surged to around 65,500 and then began to fall back as the upward momentum started to weaken.

In the past few days, I’ve also kept emphasizing my bearish view in the live room and in my posts, reminding everyone that near above 65,000 you can try entering shorts in batches.

Recently, this round of market moves has been driven by the recently released June CPI data. Bitcoin has gained about 3,000 USD in the near term, while Ethereum is up about 150 USD.

Ahead of and around the release of this CPI, I’ve been reminding everyone of the following: last month, the U.S. and Iran signed a 60-day ceasefire understanding memorandum. There was a risk that international oil prices would unwind the risk premium. The market expected this month’s inflation data to be slightly adjusted. But this month, the U.S. military has launched large-scale strikes against Iran for multiple consecutive days, and the oil-price risk premium surged again. After that, the cooling of inflation is unlikely to be sustained—there could even be a pickup.

At that time, I emphasized the viewpoint that regardless of whether the data turns out good or bad, the mid-term outcome would be the same: prices would continue to probe lower. Next, we’ll just wait for the market to validate this view.

Currently, the positive sentiment brought by CPI has already been released to a certain extent, and I expect a pullback is about to come right away.

For brothers who don’t have a position, just wait for the next push higher from high levels. $BTC ‌