Analysis: The Bitcoin trend model has turned bearish, with $76,088 serving as a key bull-bear dividing line.

CoinFeed reported on May 25th that, according to 10x Research, the Bitcoin trend model has just turned bearish. The market is currently facing multiple pressures: Strategy's "never sell" narrative is cracking, with Michael Saylor hinting that the company may eventually sell a portion of its 843,000 BTC holdings, a shift that has triggered $2.7 billion in ETF outflows since May 7th. Bitcoin ETFs saw a net outflow of $1 billion in May, with $2.7 billion concentrated in the last two weeks, and the outflow rate is accelerating. On the macro level, inflation is a risk factor that most Bitcoin investors are mispricing. Inflation is negatively correlated with Bitcoin returns, and rising oil prices will continue to influence CPI data over the next two to three months. The bond market has already fully priced in a Fed rate hike before the end of the year.