Author Noelle Acheson of the 'Crypto Is Macro Now' newsletter stated that BTC is still a safe haven, noting, "The short-term price of BTC is determined by the last round of short-term trading, but in the long run, BTC is still a safe haven. Currently, the market is in a risk-averse mood, so macro investment portfolios are all reducing positions. There is also no sign of new capital inflows needed to initiate the next pump, which may take some time, as both professional investors and retail investors are very uncertain."

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