The cryptocurrency market is in a strong bearish trend, and more FUD is loading. This is due to a number of factors, including the rising inflation, and the upcoming interest rate hikes by the US Federal Reserve.
As a result, market makers are fake pumping altcoins to liquidate those shorts from above with sudden fake pumps, just to nuke it afterwards. This is a sign that they know BTC’s next move, and want to take out most of altcoin shorts with these fake pumps. At the same time, they are sending BTC into a boring sideway zone.
The best short entry for those that missed the call at 31k region is currently at $28.600 region. This is a key Fibonacci level, and a breakdown below this could lead to a further decline to $23,500.
The next few days will be volatile, as important economic data will be released. If the CPI and PPI numbers are higher than expected, this could trigger a short-term bearish move. However, if the numbers are lower than expected, this could trigger a short-term bullish move.
Overall, the outlook for the cryptocurrency market is bearish in the short term. Investors should be prepared for more FUD and fear, and should only trade with caution.
Warning: The author of the text you provided is predicting that BTC could hit $23,500. This is just a prediction, and it is important to do your own research before making any investment decisions.
Here are some additional things to keep in mind:
- The cryptocurrency market is still very volatile, and prices can move quickly.
- It is important to do your own research before investing in any cryptocurrency.
- Only invest money that you can afford to lose.
Note: The uncertainty regarding SOL is due to the fact that FTX exchange is one of the largest holders of SOL tokens. The uncertainty could lead to a sell-off of SOL tokens, which could drag down the prices of other altcoins and BTC.