Analyst: Overheated sentiment has eased, the market outlook continues to be bullish

Bitget news, crypto analyst Crypto Hunter tweeted that the overheated sentiment has eased and the market continues to be bullish. The US CPI data released last night met market expectations, alleviating concerns about stopping rate cuts in December and pushing $BTC above the major threshold of 90,000 USD. However, profit-taking in the early morning caused $BTC to fall back below 90,000. But currently, the trend of $BTC is still relatively healthy as long as it does not fall below the support level of 86,000; its upward pattern will not be broken. The past two days' fluctuations have also significantly cooled down an overheated market sentiment. The funding rates for mainstream coins have returned to normal but some altcoins' funding rates are still slightly high.

The financial situation continues to give positive signals with stable coin supply accelerating growth; over the past two days USDT supply increased by 2.6 billion; funds continue to flow into CEX in large amounts. ETFs are also actively buying - yesterday Bitcoin ETF net inflow was 510 million USD and Ethereum ETF net inflow was 147 million USD.

Altcoins need not be overly pessimistic either - although altcoins generally fell sharply on volume a couple of days ago this drop could just be a shakeout with some altcoins ($ALT $ltc $not etc.) already breaking through their highs from two days ago on heavy volume.

In summary current macroeconomic factors emotional factors and financial conditions all provide relatively positive signals so we remain bullish on future markets.