Market Sentiment Turns Bearish Despite Positive CPI Data

According to Odaily, Adam, a macro researcher at Greeks.live, shared insights in an English community briefing, revealing a bearish sentiment among traders despite positive Consumer Price Index (CPI) data showing a 2.8% increase, slightly below the expected 2.9%. Traders are closely monitoring Ethereum's critical support level around $1,900 and discussing Bitcoin's potential bottom, with some suggesting a downward target of $60,000. The market quickly reversed the gains from the favorable CPI data, with traders expressing that there are no positive factors left for Americans. Ethereum was described as 'under immense pressure,' yet there remains potential for a rebound despite the overall negative sentiment.