Oil rose a bit last night. The hardest-hit stocks in the AI sector were still memory and $SOXL semiconductor stocks, while Microsoft and Apple were doing relatively okay. Crypto also saw a massive sell-off across the board.
Money flowed back into gold, so this rules out liquidity-driven forced selling. Earlier, the explanation was that leveraged investors needed to sell gold to meet margin calls. Judging by what’s happened over the past few days, that doesn’t seem to be the case.
Most of the selling seems to be over, and sentiment is overly pessimistic in the short term. Now we just have to wait for a recovery.
If the recovery falls short of expectations, then we’ll be back to choppy, range-bound trading.
#美股走弱，加密货币市场普遍承压
Money flowed back into gold, so this rules out liquidity-driven forced selling. Earlier, the explanation was that leveraged investors needed to sell gold to meet margin calls. Judging by what’s happened over the past few days, that doesn’t seem to be the case.
Most of the selling seems to be over, and sentiment is overly pessimistic in the short term. Now we just have to wait for a recovery.
If the recovery falls short of expectations, then we’ll be back to choppy, range-bound trading.
#美股走弱，加密货币市场普遍承压