Cryptocurrency investors have significantly lost their appetite for risk, leading to a prolonged period of market negativity. Despite Bitcoin's long-term uptrend, its short-term trend is downward, with prices fluctuating between $61,100 and $63,000. Altcoins, however, continue to suffer, with analysts predicting potential positive triggers next week.

Bitcoin fell 3.3% on May 14, testing $61,000 again. Despite bulls' efforts to surpass $63,500, they have been unsuccessful. While the long-term outlook indicates an uptrend, the short-term trend is downward. Some analysts believe $70,000 is within reach, but a reversal of the current downtrend requires closures above $67,000.

If BTC cannot close above this level, a new test towards $57,000 might be seen.The latest PPI data came in at 0.5% monthly, exceeding expectations and pleasing the bears. This has led to a continued shift towards more reliable assets, weakening risk markets within crypto.

ETF outflows continue, with a net outflow of $50.9 million from GBTC. The potential upcoming ETF rejection is also exerting pressure, contributing to the decline in altcoins.However, analysts predict a potential positive trigger for altcoins next week, with the outcome of the ETH ETF decision likely to impact the markets.

Some believe Bitcoin dominance has likely peaked, and the news surrounding the Ethereum ETF will be a significant positive trigger for the markets, leading to a rotation for altcoins. Historically, Bitcoin has performed pre-halving retraces 14-28 days before the halving, and this cycle was no different. As such, investors are advised to "buy the dip and be patient."