Bitcoin ETF holders have sold over $1 billion since the release of CPI data on May 13, according to a 10x Research report. This significant sell-off has led to a sharp decline in market sentiment, dropping from 87% to 45%. Concurrently, bond yields have increased, with the 30-year yield reaching 5.12%. The report highlights that Bitcoin is currently testing its 30-day moving average, with critical levels identified at $79,125 and $76,922. Additionally, Ethereum has triggered a bearish signal. Despite the current market volatility, the report suggests that the cycle bottom may have been reached, describing the market as experiencing a "two steps forward, one step back" pattern.