Here we are consolidating between 66.5k to 67k as if nothing happened in the last 4 days 😅

It seems what's really happening now is a perfect copy of what happened in late April but at a higher price range in the macro-level.

By the end of April, most investors were afraid of the fed speach as a result of a little bit negative inflation data. This time, it's the same kind of behaviour but with employeement data.

It just shows the fact that US investors dominated the crypto market and over time it's getting more and more influenced by what's happening in the US rather than elsewhere in the world, this is risky long-term as US economy might collapse in the coming 5-years and it might lead to a bad ending for the whole crypto industry if we keep giving away the supply to US investors and having BTC banned in China.

For now, I think there's a chance of a further drop, 67k is now like the 60k we had back in April, so we might drop to 65k and bounce back quickly tomorrow, it'll be a great chance to accmulate ALTs.

Breaking the macro-trend won't be confirmed even if we go well-below 66.5k as it would recover fairly quickly.

Tomorrow, the FED might start rate cuts or at least give investors hope of nearing rate cuts which will surely get prices back to the 70k range or even start parabolic run, so don't get scared of this dump, tomorrow it'll be the end of it. But it's worrying long term for the fate of crypto industry being mainly influenced by US market!