Gu Jingci: July 15th CPI data boosts prices; how long can this upward trend last?

Bitcoin/Ethereum surged last night on the back of CPI data, reaching highs of around 65100 and 1897 respectively, prompting many to predict a bullish pullback and further gains. Many even waited for a market retracement to enter long positions, unaware that either a retracement won't provide an entry opportunity, or it will be followed by a sharp drop. The current trend remains bearish, and a significant drop is expected. Why? Firstly, the CPI data reflects last month's situation. Last month saw US-Iran negotiations, de-escalation of tensions, and a sharp drop in oil prices, naturally leading to positive data. But what about this month? All the positive news is just a mirage; everything will return to normal. Today is the 15th, and the end of the month will likely be chaotic, potentially even seeing a significant drop, with levels potentially reaching 59000 and 1600. Those who opened short positions yesterday morning at 64800 for Bitcoin, 1875 for Ethereum, and 77.5 for Sol should patiently hold and wait for the market to fall.