Crypto prices have appreciated significantly over the course of the last month, but have retraced somewhat in the last few days, which has prompted some speculators to wonder what the cause could be for the lack of sustained momentum.

The pullback is an entirely healthy retracement

The first thing to note is that this retracement is nothing for investors to be concerned about, and is an entirely healthy pullback. The retracement hasn’t been remotely significant in percentage terms, and hasn’t caused any meaningful change in sentiment.

There are some who believe that the market is now overbought and could be retracing lower, but this would also not be meaningful given that the markets still remain down significantly from their all time highs anyway.

Uncertainty over US economic data is prompting traders into stablecoins

A lot of US economic data is to be released over the coming days, and on the 1st February the FOMC is to hold one of their meetings in which they will announce whether or not the Federal Reserve is to be raising rates further.

As such, many speculators are choosing to wait until the situation becomes more clear, and adopting for the tried and tested method of simply holding stablecoins for the time being.

The macroeconomic environment remains largely bearish, extending crypto winter

The current macroeconomic environment remains bearish, with stock indexes continuing to suffer thanks to the increasing interest rates since 2022, and risk assets taking a beating.

The damage has been so significant that many Big Tech stock are now down well over 60%, and there has been a spree of redundancies across the entire sector.

Some investors are looking to the Calvaria presale to avoid crypto winter

There are some investors who aren’t heading into stablecoins, but are instead looking to find outsized returns in newer projects such as Calvaria, which only has $100k of tokens left to sell in its presale before the presale has concluded.

Calvaria is a brand new play to earn NFT project in which users can create their own battle card decks to wage war against one another in order to earn rewards in the RIA token.

Those who wish to participate in the Calvaria presale (and exit the crypto winter) before it has concluded can now do so on their website before the presale has completely sold out.

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