$BTC The Dow plunges by over 600 points!
This time, U.S. stocks really got spooked by oil 😨
Last night when the U.S. market opened,
I could already tell something was off.
When the closing bell rang,
The Dow directly fell by 628 points.
Down 1.18%.
The S&P 500 fell 0.58%, and the Nasdaq dropped 0.32%.
At a glance, the Nasdaq seems pretty calm.
But in reality, the market has started to reprice risk.
The main trigger for this sell-off
is still—TMD—oil.
After energy facilities in southern Saudi Arabia were attacked,
markets started worrying that energy supply in the Middle East could be hit further.
Because if oil prices rise,
that can directly trigger inflation expectations,
which in turn lowers expectations for rate cuts.
Unlucky ones are risk assets like stocks and BTC.
Especially now, the U.S. is about to release major inflation data.
So right now we can only pray inflation doesn’t come in hot.
Oil itself is deeply tied to inflation.
If Brent truly breaks through $100,
and the situation in the Middle East keeps escalating,
U.S. stocks may still face pressure going forward.
“Bing ge” probably won’t be doing much better either.
BTC bro is still kind of limp.
82000 can’t be broken.
76000 can’t be lost.
Let’s watch the intraday.
Bullish intraday.
The breakout signal is clear.
If it can successfully break 79350,
there’s a good chance it could rise toward around 80500.
#dowfallsover600points