web3xJq

$BEM keeps adding more~

Tonight BTC and ETH continue to weaken. I’m more inclined to interpret this move as:

macroeconomic pressure + ETF outflows + the continuation of long-squeeze/liquidation.

This isn’t the sudden appearance of a brand-new negative catalyst.

On the macro front, Middle East risks are still pushing oil prices up, while long-term U.S. Treasury yields remain elevated. For BTC and ETH—risk assets with no coupon/interest—the 5%+ risk-free yield environment by itself continues to weigh on valuations.

At the same time, what was released last night was the September meeting minutes, not a new rate-hike decision. The market right now seems more like it’s repricing:

The Fed can wait, but the high-rate environment won’t end quickly.

That remains unfriendly to risk appetite.

There’s also another layer of pressure coming from leverage and ETFs.

Spot BTC and ETH ETFs are seeing outflows at the same time. Institutional buying hasn’t stepped in to absorb it in time. So after BTC repeatedly failed to break through highs, it fell below 84K and 83K, and then moved further down to test the 81K area.

From a technical perspective, a few levels are currently especially important:

81.27–81.62K

This is the management zone I’ve been watching previously, and it’s also close to the 4H EMA200.

Now that price has broken below it, the most important thing isn’t the “breakdown” itself, but whether:

the rebound can get back above it.

If BTC rebounds to this area and then shows:

rejection → lower high → failed retest

then the former support zone is very likely to start turning into resistance.

In that case, continue to watch lower levels:

80.9K → 80K → 79.4K

But I won’t immediately chase a short here.

The reason is simple:

1H RSI has already entered a clearly oversold region, and 4H is also weak—so a fast rebound can happen at any time.

So we also need to be prepared for another scenario:

If BTC can regain and hold above 81.6K, and on the 1H timeframe forms a higher low, then this latest breakdown could turn out to have the characteristics of a liquidity sweep.

In that case, the rebound room could first be:

82K → 82.8K

So my current view is:

The bigger structure remains bearish, but 80.9–81.6K has already entered an area where rebounds are easier to occur.

Treat trend and positioning separately.

The easiest way to make a mistake now isn’t getting the direction wrong—it’s continuing to chase entries emotionally in a spot that’s already oversold.

First, whether 81.27–81.62K can be reclaimed.

Second, when 80.9K is tested again, whether sell pressure keeps expanding.

If it can get back above, then first respect the rebound.

Direction remains bearish, but for now, wait for price to confirm on its own.

ETH weekly TD13 has appeared; the short-term bias is toward a pullback first.

After a sustained rebound from the lows, the weekly chart has entered a potential exhaustion zone, while the daily and 4H charts are also starting to weaken in sync.

TD13 doesn’t mean an immediate top, but the risk/reward of chasing higher at this level has clearly deteriorated.

My current view is:

Bearish on the rebound, but don’t chase shorts.

Key levels to watch:

Resistance above: 2630–2660
If the rebound meets resistance in this zone, a continued decline remains the more likely scenario.

Short-term support: 2580
If it breaks decisively, the next key level to watch is around 2500.

Short-term bearish outlook invalidated if price regains and holds above 2700.

So for now, I’m leaning toward:

Rebound → watch resistance → look for another short opportunity

Rather than chasing shorts at current levels.

Weekly TD13 + weakening daily momentum + a 4H breakdown: this upcoming pullback is worth watching closely.

TD13 ≠ confirmed top, but it is absolutely a signal to respect.

$ETH

U.S. stocks are in risk-on mode, but crypto hasn’t fully joined in

SPY is up about 0.7%, QQQ is up 0.7%, and NVDA and AMD are up around 1.3% and 2.0%, respectively.

Watch whether BTC can break above its intraday high near 86.45K. If U.S. stocks continue to strengthen while BTC still can’t recover, the divergence is worth keeping in mind.

AI infrastructure is entering a very practical new phase: having the money to buy GPUs doesn’t mean the power grid will necessarily let you turn them all on.

The new Google–Constellation agreements cover a combined 3.59 GW, but it’s important to distinguish between the two parts.

One part is an 890 MW upgrade across 11 existing nuclear units in Illinois, Pennsylvania, and New Jersey, covered by a 20-year PPA signed by Google. The first tranche of added capacity is not expected to come online until 2028.

The other part is an additional 2.7 GW of power supply in the PJM region over 15 years. It should not all be described as new nuclear power.

The agreements will support more than $4.3 billion in investment by Constellation. More importantly, they directly address PJM’s “Bring Your Own Power” framework: large data centers that don’t bring reliable new supply online at the same time may face power curtailments when the system is under strain.

The market reaction was immediate.

CEG rose about 13.7% to $304.31, while GOOGL was roughly flat.

My read is that AI CapEx is shifting from “how much compute to buy” to “who can secure power and grid access in advance.” For now, the market sees more of the scarcity premium and long-term contracted revenue accruing to power generators.

But it would be a mistake to attribute all of CEG’s gains to an AI narrative. Greater long-term revenue certainty, the scale of the $4.3 billion investment, and positioning ahead of the announcement may also have contributed to the valuation.

Next, watch:

* Whether the nuclear upgrades receive approval and are delivered on the 2028 timeline;
* Whether more hyperscalers replicate this kind of long-term agreement;
* Whether PJM formally makes “bring your own power” a standard requirement for data centers.

If the deal is signed but capacity never comes online, this remains a story about the distant future. If more AI companies begin directly funding new generation, power will no longer be just a cost item—it will become the price of admission for AI growth.

Yesterday, Crypto was still waiting for CLARITY’s procedural vote; today, the outcome is in: 49–50, and the legislation couldn’t move forward.

First, let’s be clear: this is not the final passage vote on the bill, and it’s not that the current Crypto rules suddenly became invalid. The Senate has since filed a motion to reconsider, so saying the bill is “permanently dead” is too early.

What really concerns me is today’s price reaction.

QQQ is up about 0.75%, SMH up 1.64%, and AMD up 4%; but COIN and MSTR are still down about 2%. BTC is around $75,752 during this query, and the quote doesn’t provide an exact transaction time.

On the same night, tech stocks are repairing, but Crypto hasn’t come back in step.

My take is that the market may be willing to buy the tech rebound first, but still isn’t willing to add back the policy certainty premium for Crypto. This is a hypothesis, not a confirmed explanation of the capital flows; factors like the Fed trimming earlier, rate pressure, and the earlier run-up giving back gains could all be involved.

The Fed decision won’t be released until September 17 at 02:00. Next, even more important than the headline, is whether the two sides can get re-synchronized after the decision.

If the broader market holds its rebound while Crypto stocks continue to lag, this discount may be more than a one-off, short-term sentiment move. If Crypto catches up again, the divergence tonight could just be pre-event positioning adjustments.

For now, there’s no need to pass judgment on the market.

Tonight’s most worth watching in U.S. stocks isn’t how much Nasdaq is down—but the sudden reversal of capital direction inside AI Trading.

After multiple AI leaders support slowing down the development of frontier models, capital first pulled out from semiconductors and AI infrastructure:

SMH fell about 4.4%, NVDA about 3.4%, while AMD, MU, and MRVL fell nearly 6%. Memory/Storage was also weak—SNDK, WDC, and STX dropped roughly 4%–5%.

But the market didn’t sell the entire tech sector together.

ServiceNow and Adobe rose about 4.6% and 3.5% respectively; CrowdStrike even surged about 12%. Healthcare and Consumer Staples also received defensive inflows.

This reversal is interesting.

The trade Astra brought on September 8 was:

AI capabilities accelerate → software disruption → buy hardware, sell software.

But what the market is trading tonight is:

AI development may slow down → reassess infrastructure CapEx → pressure from software disruption eases temporarily.

So what the market is doing with price discovery right now isn’t asking whether “AI still has a future,” but—after the change in AI development pace—who’s expectation needs to be adjusted the most.

That said, I won’t attribute tonight’s entire selloff to AI safety.

Brent has risen to around $109, and the 10-year Treasury yield officially broke above 5%. The market’s pricing for this week’s Fed rate hike is close to 89%. Oil prices, interest rates, and crowded positioning are all alternative explanations that exist at the same time.

Next, watch for two confirmations:

* Whether chip stocks can reclaim the opening range before the close;
* Whether software and cybersecurity can hold most of their gains.

Only if both hold true can it mean the market has genuinely shifted its track from AI hardware toward applications and the security layer. If software gains quickly give back, tonight may just be a round of headline-driven short covering.

A further confirmation on BTC comes only if it breaks through and holds 78,630–80,000. Falling back below the intraday low of 76,439 would mean the move fails and turns into a breakdown. This week’s Fed decision and the Clarity Act procedural vote could still amplify volatility.

TapeOut This Week Highlight ✨

This week, what I think is most worth watching isn’t the addition of another new Narrative—it’s that TapeOut has finally started truly filling in the “usage layer.”

1｜Fabrication officially enters Open Beta
After the testing period ends, fabrication will begin connecting the protocol fees. Some of the future fees will flow into the $BEM buyback / burn logic.
This means BEM’s value capture is starting to shift from “imagined” to “protocol revenue.”

2｜Third parties are really starting to build things with TapeOut
Microduck, Five in a Row, 3D games, Explorer, Market, NANDPU……
The most interesting thing lately isn’t “what else TapeOut can do,” but rather:

What others are starting to do with TapeOut.

3｜BEM is moving toward truly ungovernable
The proposal to relinquish management rights has been submitted and is expected to take effect officially on 9/14.
If it goes smoothly, BEM’s supply, output curve, and core rules will shift from “trust the team won’t change it” to “no one can change it.”

Also, UPay has announced its collaboration with TapeOut to pay cards.
Right now it’s still just a partnership announcement, but from Circuit, Container, Linux, to payments and third-party applications—the whole line is beginning to slowly connect.

4｜I also haven’t been idle this week
Those three TapeOut Circuits in the FOMO Trenches have already moved from “it can run” to the stage of “begin training Gen.”

Next, we’ll see whether the results after training are more stable—or if it tells me: this path should be changed.

I actually really like this kind of process: building on the go, testing on the go, and overturning your own work on the go.

The biggest feeling I have this week is:

TapeOut is starting to move from “can we make it” to “will anyone truly keep using it.”

Next week, I’ll look at three things:
BEM relinquishing rights officially taking effect, the official Launchpad, and whether UPay has more implementation details.

First, let the usage layer grow out. #TapeOut #BEM

When Saudi Arabia shut the East–West Pipeline yesterday, the market still did not know how long the outage would last.

More important information has emerged today: Reuters, citing industry sources familiar with Saudi exports, said that current inventories at the Yanbu port can only support exports for about 5–7 days. If the pipeline is not restored in time, it could remove as much as around 4% of global oil supply from the market.

That turns the whole situation from a one-off infrastructure attack into a countdown between inventory levels and repair speed.

Estimates for the repair timeline vary widely among sources. One possibility is that partial throughput is restored during the repair period; the more pessimistic view is that full repairs could take five to six weeks. The Saudi authorities have not yet released details on the extent of the damage or provided a clear schedule, so neither outcome can be treated as fact in advance.

The problem is that other export routes have not improved in tandem.

On Sunday, ships were again hit by projectiles near Hormuz and caught fire; the crew has already evacuated. On the Red Sea side, shipping pressure remains from the Houthis controlling Perim Island.

Saudi markets moved first: TASI fell about 1% early on, Aramco dropped 1.1%, and Rabigh Refining slid 7.3%. But the most critical—Brent, U.S. Treasuries, and U.S. equities—have not opened yet, so the market’s main price discovery has not started globally.

Crypto has only weakened to a limited extent: BTC is around $76,700, ETH has fallen below $2,500, and BNB is down about 2.8%. That is not enough to show that the macro market has fully priced in the move, nor can we predict how Monday’s opening will look based solely on weekend prices.

Next, focus on three things:

* Whether Saudi Arabia announces partial restoration of pipeline throughput;
* Whether the Oman meeting can deliver actionable Hormuz shipping arrangements;
* After Brent opens, whether it holds above $105 and whether the 10Y yield again challenges 5%.

If the pipeline is restored quickly, the risk premium could unwind fast. If the 5–7 day inventory countdown starts nearing its end, the market recalculation would not be just about oil prices—it would be about inflation, the Fed, and the valuation of the entire Risk Asset complex.

Weekend energy risk is up another notch, but true price discovery will have to wait until Monday.

After drone attacks, Saudi Arabia temporarily shut down the East–West Pipeline, about 1,200 kilometers long, as a precaution. The pipeline recently carries roughly 4–5% of global oil supply, with around 4–5 million barrels per day.

What matters isn’t just the attacked facilities—it’s their role within the entire supply network.

After Hormuz shipping was disrupted, the East–West Pipeline became Saudi Arabia’s main alternative route for exporting crude oil to the Red Sea and bypassing the Strait. Now this standby corridor is paused, and at the same time the Houthis have seized Perim Island near Bab el-Mandeb.

One route is the land pipeline bypassing Hormuz, and the other is the Red Sea outlet. Both are beginning to face pressure.

But for now, we can’t directly claim that a new round of oil price surge has already taken place.

Crude oil futures, U.S. stocks, and U.S. Treasuries are all closed for the weekend. Brent ended Friday at $104.61, already up more than 8% on the week. BTC is around $77,319, down only about 0.6% on the day; ETH and BNB are even still rising.

This could mean Crypto is not experiencing further panic, or it could simply be that weekend liquidity is thinner while the major macro markets haven’t opened yet.

On Monday, the main things to watch are:

* Whether Brent gaps up and holds above $105;
* Whether the 10Y yield moves back toward or breaks above 5%;
* Whether BTC can hold today’s low of about $76,952;
* When Saudi Arabia restarts the pipeline, and whether the shutdown actually affects export volumes.

If the pipeline returns quickly, the geopolitical risk premium could unwind. If the outage lasts longer, what markets will need to reprice won’t just be oil, but also inflation, the Fed, and valuations for all long-duration assets.

Tonight’s real “price discovery” in the market may not be whether PPI is coming in 0.1% higher than expected—but instead whether the energy shock is forming a new underlying inflation bottom.

The U.S. August PPI rose 0.4% month over month and 5.4% year over year. Breaking it down, prices for final-demand goods increased 1.1%, with more than three-quarters of that rise coming from energy. Energy prices rose 4.2%, with diesel jumping 24.1%.

But service prices rose only 0.1%. After excluding food, energy, and trade services, the key measure rose 0.3% for the month.

So for now, this data doesn’t look like broad demand-driven inflation is re-accelerating. It looks more like energy costs are moving first into the production side.

The trouble is, this isn’t data that merely records the past.

Tonight, Brent has already surged to around $105, and WTI has climbed back above $100. That means the energy pressure shown by the PPI hasn’t ended—it may continue along the chain: transportation, manufacturing, corporate profits, and finally filter through to consumer prices.

The market’s first reaction was also very direct: the 10-year Treasury yield briefly rose to about 4.91%, QQQ fell nearly 1%, and SMH dropped more than 2%. High-beta Memory/Storage names like MU, WDC, and SNDK fell about 3%–3.5%. BTC also slipped back to around $77,000 and, for now, hasn’t broken out into a standalone inflation-hedge trade.

However, there’s one more detail: after crude oil surged, XLE actually fell more than 1% at one point.

So you can’t simply interpret it as “oil prices rise = buy energy stocks.” The market may be worrying about demand, costs, valuations, and the rally’s prior gains all at once. The specific reasons still need to be confirmed by the close and subsequent capital flows.

Next, I’ll first look at:

* Whether WTI can hold above $100;
* Whether the 10Y yield truly tests 5%;
* Whether the next CPI release can show that energy pressures still haven’t spread to broader service prices.

If oil prices fall back quickly below $100, tonight’s inflation narrative may cool. If oil and yields stay elevated together, then the risk assets facing isn’t just one PPI print—but “higher for longer” again becoming credible.

Tonight, oil prices remained around $100. After the U.S. stock market opened, most sectors weakened, but Meta bucked the trend and surged nearly 5%, once becoming the best-performing stock in the S&P 500.

In the market’s Price Discovery, it may not be a matter of Muse’s model capability. Instead, Meta has finally created a direct, payable product entry point for its massive AI investment.

Muse doesn’t just answer questions. It can connect with email, calendars, shopping, health, and payment services—replacing the browser experience for users, filling out forms, scheduling appointments, sending emails, and completing purchases. Besides the free version, there are also subscription plans of $20 and $100 per month.

This is fundamentally different from a typical chatbot:

A chatbot gives you answers, while an agent—once granted permission—takes actions on your behalf.

Meta’s advantage isn’t just in the model either. Together, WhatsApp, Facebook, and Instagram provide distribution channels that other agents can be far more difficult to replicate.

If only a small portion of users are willing to pay, Muse could give this year’s more than $130 billion in AI infrastructure investment its first clearer monetisation story.

But the same capability is also its biggest risk.

Meta says Muse runs in a separate Secure VM, and sensitive actions require user confirmation. However, Reuters, after reviewing internal tests it obtained, found reliability issues still occurring and cases where sensitive data was accidentally exposed.

So I think in the age of agents, what ultimately matters may not be Intelligence alone.

It’s: who can make users feel comfortable handing over permissions for email, accounts, payments, and real-world actions.

Meta’s stock price reaction tonight suggests at least that the market is willing to pay a little up front for this possibility. Next, what really matters will be user retention, paid conversion, and whether security incidents will grow faster than product adoption.

Last night, the market was still debating whether Brent would break through $100. Tonight, it has genuinely already moved past that level.

Middle East supply risks continue to intensify, and Brent at one point reached around $100.80. U.S. stock index futures were also under pressure at the same time, and the market’s probability of a 25 bps rate hike next week rose to about 62.4%.

The normal logic goes like this:

Oil prices rise → inflation pressure increases → rates stay higher for longer → Risk Assets face pressure.

But BTC tonight hasn’t followed that script—for now.

It rebounded from an intraday low of about $77,680 and is back near $79,500; meanwhile, U.S. stock index futures remain weak. This cross-market divergence is currently the most worth watching.

That said, I won’t just declare that BTC has already become “digital gold” because of a single bounce.

It could also just be position repair after the prior leg of selling, a weaker dollar, or the 24/7 market having already completed part of the price discovery in advance.

Next, I’m looking for two confirmations:

* Whether Brent can stay above $100 even after U.S. stock market hours begin;
* Whether BTC can break through and hold $80,000—not fall back below $77,680 again.

If the first holds true and the second holds true as well, then this relative strength this time is more deserving of serious attention; if BTC loses the low again, it would still just be a short-term rebound.

What to watch most after tonight’s U.S. stock market opens isn’t how much the overall market is down, but what investors are still willing to buy despite the pressure.

Brent crude oil briefly pushed close to $100, and the 10-year Treasury yield is still around 4.79%. This combination brings back inflation and the pressure of “higher for longer”: DIA is down more than 1%, and SPY, financial stocks, and Crypto stocks are also relatively weak.

But semiconductors show clear divergence.

Amazon and Qualcomm announced a partnership to develop custom AI inference chips, along with an optical interconnect solution of up to 1.6Tbps. Amazon also received warrants that allow it to purchase up to 25 million shares of QCOM. Potential business tied to this cooperation could be as high as $60 billion.

After QCOM opened, it initially surged to nearly +11%, then pulled back to about +5%. AMD and STX also moved higher, and SMH remained up, but NVDA fell by more than 1% instead.

This doesn’t look like the market is broadly and indiscriminately chasing AI again. It’s more like the market is re-scrutinizing AI infrastructure:

Who provides inference, who gets custom silicon orders, and who solves the connectivity and storage bottlenecks—money flows to whoever can deliver.

So I won’t treat tonight as “Risk-off for AI” for now. A more accurate way to put it is:

The macro backdrop is raising the valuation bar, and the market is starting to be more selective about AI winners.

QCOM’s opening spike has already clearly narrowed, and I’m not rushing to chase it. Next, I’ll watch whether it can reclaim the roughly $180 opening area; if it can’t, it would suggest that most of the good news has already been priced in ahead of time.

BNB seems to have really started moving

Today BNB surged all the way to around $750, with the daily chart re-accelerating and already testing the previous high area.

What’s more interesting is not just BNB rising on its own, but the timing:

After BTC rallied from the $60k range to around $80k, it is now consolidating at high levels; meanwhile, BNB has started to show clear strength.

At times like this, I start paying attention to one thing: whether capital is rotating.

If BTC does not continue breaking out significantly next, but instead moves sideways at high levels, while the BNB / BSC ecosystem takes over, then the market may be spreading from BTC into higher-beta assets.

Of course, it is still too early to say “BTC has topped.”

BNB’s daily chart is also already pretty hot, and the short-term RSI is at elevated levels, so I wouldn’t chase a big green candle here.

What I’m mainly watching next are two things:

Whether BNB can truly hold above $750–760; and whether BTC can continue to defend its key structure.

If BTC starts to weaken while BNB / BSC keeps accelerating, then this rotation signal will be worth taking seriously.

Could BNB’s move also be a signal of BTC forming a stage top?
$BNB

What was most worth watching last night was that when the broader market was falling, people were still buying Memory stocks.

On 9/4 at the U.S. regular close, SNDK rose 11.9%, and MU rose 6.1%. Put together with the broader market, it almost looked like two different markets.

Macro pressure is definitely there. U.S. nonfarm payrolls increased by 162,000 in August, and the unemployment rate held at 4.1%. The labor market has not clearly cooled, so the market also has to reassess how much room the Fed has to ease going forward.

But under that backdrop, memory stocks still strengthened.

My read is that the market is becoming more selective about AI beneficiaries: which companies may capture real demand, and which companies, although also talking about AI, are at the same time facing pressure from competition and their business models.

This is an observation based on price divergence, and it still cannot be confirmed from just one day’s move that capital has already shifted for the long term.

Next, I’ll first watch whether hardware can continue to outperform the broader market, and whether there is support on pullbacks. Then, combined with next week’s inflation data, I’ll see whether these stocks can still maintain relative strength when interest-rate pressure intensifies.

If the gains are quickly given back, I’ll first interpret it as a short-term rotation.

The direction is interesting, but the entry level still matters. Seeing a stock rise against the trend doesn’t mean you should chase it.
$SNDK

Non-farm payrolls came in much stronger than expected, BTC fell below 80K, and the market has started pricing in hikes again

Tonight’s US jobs data was indeed very strong.

August non-farm payrolls added 162,000 jobs, beating market expectations; private non-farm payrolls were even more surprising:

Expected 45,000 → Actual 127,000

The unemployment rate remained at 4.1%. Overall, the US labor market is clearly more resilient than the market had originally expected.

But for risk assets, this kind of “good data” is not necessarily good news right now.

After the data came out, BTC quickly fell below 80K, and liquidations across the market exceeded $200 million in a short period, mostly long positions.

The reason is actually pretty simple:

For a while, the market had been waiting for the economy to cool down, hoping the Fed would have more room to turn dovish.

But now that the jobs data is this strong, the market immediately started repricing:

The Fed may not be in any hurry to cut rates, and there could even still be room to keep hiking.

At the moment, the market-implied probability of a 25bp hike in September has climbed back above 60%.

And then the funniest part is Trump

After the jobs report was released, he said:

“The jobs report broke everyone’s expectations — except mine.”

At the same time, he continued to push the Fed to cut rates, arguing that the stronger America’s credit is, the more it should enjoy lower interest rates.

So right now the market is showing a very interesting picture:

The stronger the economic data, the happier Trump is;
The stronger the economic data, the more worried the market becomes about the Fed.

For BTC, I’m still watching 80K first.

After the earlier move up to 80K, it never really held firmly, and now macro data has pushed it back down again.

If it can quickly reclaim 80K, then today’s drop looks more like a short-term shakeout driven by the data.

But if 80K cannot be reclaimed and the structure below keeps breaking down, I won’t rush to buy the dip; I’ll still watch out for further downside in search of support.

These past few days have made one thing increasingly clear:

It’s not just about whether the data is good or bad, but about how that data will affect what the Fed does.

Too weak on jobs, and you worry about recession.
Too strong on jobs, and you worry about hikes.

Traders: what exactly do you want

$BTC $SPX

The first day of September in the US stock market—directly thrown into chaos

The Nasdaq is down more than 1%, Philadelphia Semiconductor is once down over 3%, and names like NVDA, AMD, and TSLA are also all falling.

But today, I think the real thing to watch isn’t which stock is down the most—it’s two things:

Oil prices and U.S. Treasury yields.

Brent crude has pushed back up to around $92, and the risk in the Strait of Hormuz hasn’t really gone away.

If oil prices keep propping up like this, inflation will be hard to get comfortable again, and it will become even more difficult for the Fed to turn dovish.

The market’s expectation for a 25bp rate hike in September has already risen to 66%.

Just a few days ago, the Fed was only recently a bit hawkish—now crude oil comes along to add fuel to the fire.

So for this sell-off in tech stocks today, I’m not in a rush to buy the dip for now.

For the S&P, I’ll first look at 7500 next.

If this level can hold, I’ll keep looking for opportunities after a pullback; but if 7500 breaks as well, and oil prices and Treasury yields continue rising, then September may really need to go through an adjustment period first.

Lately it’s become increasingly clear:

It’s not that stocks suddenly got worse—it’s that the market has started Price in interest rates again.

When oil cools off, and when short-term Treasury yields turn back—I think that’s more worth watching than whether today any single stock drops 2% or 3%.

With September starting like this, we’ve got something to play with~
$BTC