BTC has been receiving continuous positive news recently, but the price is not rising, and altcoins are still in a downward trend. There are mainly three reasons:

1. Currently, the rumors about BTC, including Trump’s policies, are all expectations and speculations, and have not materialized significantly.

2. Inflation in the United States remains high. Although the last #CPI release alleviated market anxiety, there is no substantial data indicating a decline in inflation, which would support the Federal Reserve in significantly cutting interest rates in 2025. High inflation combined with Trump's tariff policies may lead the Federal Reserve to raise interest rates, and large funds are still on the sidelines.

3. Japan's inflation indicator has reached 3% for the first time in 16 months, supporting the Bank of Japan's interest rate hike, leading to a withdrawal of some funds.

On-chain data shows that 3,000 BTC flowed out of exchanges, while stablecoins experienced some inflow, indicating positive signs. The implementation of Trump's favorable policies is just a matter of time, and whales are also accumulating at the bottom. Patience is needed.