The cryptocurrency market generally seems to be in a downtrend. Bitcoin in particular is experiencing slight pullbacks, and many other altcoins are also showing declines.

Signs and possible reasons for the pullback period:

* General decline: In addition to major cryptocurrencies such as Bitcoin and Ethereum, many altcoins are also experiencing percentage declines.

* Market psychology: Investors' panic selling and negative news pulling prices down are reflected in market indices falling to the "fear" level.

* Macroeconomic factors:

* Fed's monetary policies: The expectation that the Fed will keep interest rates limited can reduce demand for riskier assets such as cryptocurrencies. Low rates generally increase demand, while high rates reduce appetite.

* Inflation data: Upcoming inflation data and the Fed's interest rate decisions can affect the market.

* Global tensions: Macro events such as trade wars or other geopolitical tensions can also cause declines in the crypto market.
* Extremely long positions: An increase in long positions in the market can create excessive saturation in the market, causing the price to move in the opposite direction, which can trigger large liquidation waves.

* Regulatory uncertainties: Situations such as regulatory deficiencies or negative regulations regarding cryptocurrencies, governments' inability to intervene in this market, and their use in some illegal activities can reduce confidence.

Although there are some positive signals:

* Some analysts state that the "danger zone" after the Bitcoin halving may have ended and that an accumulation period may occur.
* There are also comments that Bitcoin should maintain support around the $90,000 level, otherwise further declines may occur.

As a result, the general mood of the market is somewhat cautious and shows a tendency to retreat. It is important for investors to closely follow macroeconomic developments and market news.