The crypto market is currently in an accumulation phase, with whales actively buying Bitcoin and Ethereum, seeing significant inflows. Despite this, the overall sentiment is bearish, and Bitcoin is legely moving sideways, hewing around a critical support level of $34,500. Many altcoins are bleeding out, indicating a flight to safety in larger cap assets. The Federal Reserve's hawkish rhetoric and the market only pricing in two rate cuts over the next 12 months are seen as insufficient to stimulate significant market growth. The lack of substantial Quantitative Easing (QE) is also a concern. The US Dollar Index (DXY) is showing signs of a potential bounce, which could be bearish for metals and Bitcoin. Historically, a strong dollar has correlated with weaker performance in these assets.