10x Research: Bitcoin ETF sells over $1 billion, market sentiment drops sharply

According to a 10x Research report, since the release of CPI data on May 13th, Bitcoin ETF holders have sold over $1 billion, and market sentiment has dropped from 87% to 45%. The bond yield has increased, reaching 5.12% for a 30-year term. The report points out that Bitcoin is testing its 30 day moving average, with key levels of $79125 and $76922. Ethereum has triggered a bearish signal. The report believes that the current market is in a "two steps forward and one step back" pattern, but the bottom of the cycle has already appeared.