Noelle Acheson, author of "Crypto Is Macro Now", stated that BTC is still a safe haven. He pointed out: "The short-term price of BTC is determined by the previous round of short-term trading, but in the long run, Bitcoin is still a safe haven. Currently, the market is in a risk-averse mood, so macro investment portfolios are reducing their positions. There is currently no new influx of funds needed to start the next round of growth, which may take some time, as both professional and retail investors are uncertain.

However, the tailwind is still intact, and once the market adapts to the new economic landscape, the influx of funds into the cryptocurrency market will resume, and the tailwind is still intact." (CoinDesk)