Yesterday, we got a lot of important economic data and ever since the release, many analysts are wondering what happened. The data we good was far from expectations and is signaling that the #economy is very strong🤔
According to the reported data, #unemployment dropped to 3,4%, the lowest since 1969. Meanwhile, big corporations continue to lay off thousands of employees😂
Recent layoffs:
Amazon: 18,000
Google: 12,000
Sales Force: 8,000
IBM: 3,900
Goldman Sachs: 3,200
SAP: 2,800
3M: 2,500
Pay Pal: 2,000
Wayfair 1,750
Kraken: 1,200
Coinbase: 950
Spotify: 600
Hubspot: 500
And those are just some that we can think of😉 #layoffs2023
ISM services also saw a big jump but this would be easier to believe as many business deals agreed on in December are usually realized in January🤔
Anyway, the jobs data looks cooked but at the same time gives Powell the green light for more rate hikes🟩 This is the reason why the market wasn’t too happy about this good news📉 #StockMarket
Whatever is true, we still believe that something is off and there will need to be significant repricings in major financial markets. The fact that the #FTSE100 index reached a new all-time high is shocking👀 Is the #economy really doing that well?🤔
All this hype is happening in the markets due to the belief that a soft landing is here, inflation is cooling off and the #FED will pivot. Delusional🤦♂️
If you do not believe us, listen to what #ECB president #Lagarde has to say...👇
@astroport_fi is a #DEX build on #Terra🌖 It got extremely popular in its early days and was the main DEX during the collapse of $LUNA and $UST 📉 This is also when it proved itself as a DEX that can easily handle billions of trading volume💪
After the collapse of $LUNA and $UST, the team developed a new vision and continued to build👌 Before we cover their plans, let's first take a look at their team👀
Yesterday, we saw a rally in the #stockmarket and this was expected. What was surprising is the fact that the #crypto market did not follow the move until major tech companies reported disappointing earnings results and we saw a drop📉
Yesterday proved to us that the market is becoming totally irrational. Bed Bath & Beyond failed to make interest payments on its bonds just weeks after the company warned it was considering filing for bankruptcy, yet the stock is surging higher🤦♂️ #BBBY
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📉
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🩸