Bitcoin fell below 77,000 dollars, and the KuCoin daily report for 3 November explains why the mood turned. 📰
KuCoin reports that United States equities reversed early gains on Monday, with the Nasdaq down 1.07 percent and the S and P 500 down 0.51 percent, as tech stocks stayed under pressure over AI spending and earnings growth, while spot Bitcoin ETFs recorded 643 million dollars in net outflows on 30 October. 📉 My reading is that this is a risk off morning, not a crypto only accident, because stocks, ETFs and crypto are all telling the same story of traders reducing risk before the midterm results, and that is why Bitcoin is struggling to hold 77,000 dollars.
Do you see this as a normal risk off day, or the start of a deeper November slide? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinNews
KuCoin reports that United States equities reversed early gains on Monday, with the Nasdaq down 1.07 percent and the S and P 500 down 0.51 percent, as tech stocks stayed under pressure over AI spending and earnings growth, while spot Bitcoin ETFs recorded 643 million dollars in net outflows on 30 October. 📉 My reading is that this is a risk off morning, not a crypto only accident, because stocks, ETFs and crypto are all telling the same story of traders reducing risk before the midterm results, and that is why Bitcoin is struggling to hold 77,000 dollars.
Do you see this as a normal risk off day, or the start of a deeper November slide? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinNews
