Is market set for a downturn?

Wondering if the market is set for a downturn? I have a 7% loss in the last month. Currently I have 60% of my portfolio in stocks such as Uber, Coinbase, TSMC and Qualcomm using Robinhood. Remaining is in safe assets such as 6 Month Treasury Bills using Finvest. Should I rebalance and put more in Treasuries? How are people thinking about their investment strategy this year?