Rough week. Bitcoin fell below $69K and ether dropped under $2,000, and Nvidia’s CEO stepped down on top of it. Stocks slipped about 0.4%, a lot less than crypto, but the mood feels heavy everywhere. If you’re tired of watching red, that’s fair.
I keep coming back to three things.
First, yields and the Fed. The 10-year is above 5%, and Brent oil is still near $96. October CPI came in hotter than expected, so traders now see a hike at the Dec. 8 and 9 meeting as almost certain. The hike itself is mostly priced in. A bigger one, or a tougher tone from Warsh, could hurt. If yields stop climbing, stocks and crypto both get room to breathe.
Second, Nvidia. It reports on Tuesday, its first report since Jensen Huang stepped down. Steady numbers could calm tech. A shaky report keeps the pressure on.
Third, crypto’s own side. Spot Bitcoin ETFs just had five straight days of outflows, and flows for the year are back below zero. Over $1.4B got liquidated in a day, mostly longs. That clears some leverage, but it doesn’t bring buyers back. I’d want $68K to hold, and winning back $72K to $73K would be the first real sign.
Fear & Greed is at 20, extreme fear, so a quick bounce wouldn’t surprise me. A real rebound needs a reason, and for me that’s calmer yields, a steady Nvidia and buyers returning to the ETFs.
I’m staying patient and not guessing the bottom. Just my view, not financial advice. What are you watching?
#WhatWillDriveCryptoandStocks’NextRebound?
I keep coming back to three things.
First, yields and the Fed. The 10-year is above 5%, and Brent oil is still near $96. October CPI came in hotter than expected, so traders now see a hike at the Dec. 8 and 9 meeting as almost certain. The hike itself is mostly priced in. A bigger one, or a tougher tone from Warsh, could hurt. If yields stop climbing, stocks and crypto both get room to breathe.
Second, Nvidia. It reports on Tuesday, its first report since Jensen Huang stepped down. Steady numbers could calm tech. A shaky report keeps the pressure on.
Third, crypto’s own side. Spot Bitcoin ETFs just had five straight days of outflows, and flows for the year are back below zero. Over $1.4B got liquidated in a day, mostly longs. That clears some leverage, but it doesn’t bring buyers back. I’d want $68K to hold, and winning back $72K to $73K would be the first real sign.
Fear & Greed is at 20, extreme fear, so a quick bounce wouldn’t surprise me. A real rebound needs a reason, and for me that’s calmer yields, a steady Nvidia and buyers returning to the ETFs.
I’m staying patient and not guessing the bottom. Just my view, not financial advice. What are you watching?
#WhatWillDriveCryptoandStocks’NextRebound?
