Same story when it comes to #EUR, just not so extreme📉🤦♂️
Meanwhile, #Bitcoin is holding quite well. We will need to wait for the stock market open to see how things play out before celebrating tho👀 In our view, a short-term bounce is likely and then we will be most probably making new lows📉
One thing to watch this week is Apple stock, which will likely be the last domino to fall. It is now at crucial support of $150. If it loses this level, new lows for the stock market as well as crypto are likely in play📉🤔
Here are also the events to watch this week👀👇
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Yesterday, we saw a big dump when it comes to the stock market📉 Most stocks were deeply in red and indexes are now trading at June lows👀 This retest of June lows was expected, now the question is if we bounce or continue to drop🤔 #DOW#SPX500#StockMarket
In our view, a short-term bounce may take place here but on a longer time-frames, more blood is in play until the FED starts to signal easing🤔
Bitcoin is holding extremely well. With #DOW at June lows, #SPX 1% away, and #DXY at new highs, it is amazing to see $BTC 6% away from its lows💪 It may be too early to call for decoupling but this may be the first sign🤔
Yesterday, #Bitcoin attempted to push higher and break out of the accumulation range. It failed but is now again attempting to push higher. As mentioned yesterday, we don’t believe we will see a big brakeout until we get some hint on the next interest rate hike..
When it comes to the stock market, a very low trading volume can be observed. This further confirms the thesis that most traders are waiting on the sidelines to see what Powell has to say this Friday👀
We are planning to do the same and not make any changes until we get some bigger directional move.
P.S. Today we may get some hints on whether he is Dovish (in favor of keeping rates low), or Hawkish (in favor of raising rates)🤔
We are seeing a bloodbath across all the markets. This truly reminds me of the Covid crash back in 2020 when the first wave hit and everyone started panic selling their assets.
#Bitcoin is now down almost 50% from the top, just like many US stocks👀
Netflix stock, for example, yesterday crashed by 20% 👀
Is the new Ozark season that bad?😂
In crypto the massacre continues, according to data from CoinGlass, 305,997 traders were liquidated for $1.16 billion over the past 24 hours. This shows how extreme are the market conditions. Historically speaking, there were not many days like this🩸
Manipulation continues, first a nice move up and then a big dump. Many blame the US stock market for this but in my view, a 1% drop in S&P 500 does not justify a 10% move in #BTC 🤔
I still tend to believe big financial institutions are behind this as they want to get a good entry before they launch crypto-related financial products this year👀 #Bitcoin
While it is obviously hard to predict any short-term movements, it is a fact that the #BTC reserves keep dropping meaning that the accumulation is taking place. Today we saw a few large deposits but in general, the downtrend continues ✅
Exchange inflows have also reached a new 6-month low meaning that very few market participants are now depositing coins to exchanges and selling them at those levels. This is another thing that could signal the bottom👌
According to the data available on Santiment, the whale addresses holding 1,000-10,000 #BTC have also been busy accumulating and have added 40,000 #BTC to their bags over the past 2 days👀
Whale games continue. First, we dropped to trap the late shorters, then a pump to trap the early longers🤦♂️ Whale games just never end... I have a feeling that the market has never been as manipulated as it is right now😱 #Bitcoin
Cryptoquant updated their data for #BTC reserves and as you can see from the chart, the reserves keep dropping as the accumulation continues ✅
Apart from bullish signs, crypto adoption keeps taking place. Yesterday, Francis Ngannou announced that he will be taking 50% of his UFC 270 purse in Bitcoin. More and more athletes are being paid in #BTC every week🔥