On Sunday, the cryptocurrency market continued its rebound momentum, with Bitcoin and Ethereum entering a consolidation phase after reaching new highs. Bitcoin once stood above $70,900 and is currently stabilizing in the $70,000 range; Ethereum is consolidating around $2,100.
This round of rebound is mainly driven by the lower-than-expected US January CPI data, which has increased market bets on a Federal Reserve interest rate cut, alleviating concerns about liquidity tightening. However, liquidity over the weekend was relatively weak, with limited price fluctuations, leading to cautious investor sentiment.
Market focus has shifted to Monday's opening performance of the US stock market. If the US stocks can maintain their rebound momentum, the cryptocurrency market is expected to receive further support, challenging new rebound highs; conversely, it may face profit-taking pressure, exacerbating the consolidation situation.