Before the market opened, coin and stock-related shares collectively opened lower, but Bitcoin (the “big pie”) only fell 1 point
MSTR was down 2.52% pre-market, COIN down 1.93%, and MARA and RIOT also all opened lower. But Bitcoin is only at 79201 right now, down just 0.97% over the past 24 hours. ETH is at 2485, down 1.81%. The stock side is suffering more than the crypto side—this is interesting.
According to the old-seasoned investors’ habits, first figure out whether it’s stocks that are falling or coins. MSTR is down 2.52% pre-market; Bitcoin is down 0.97% over 24 hours. The windows aren’t perfectly aligned, but this offset is there. It looks more like the market is re-pricing the company’s valuation than like someone is dumping BTC spot. If funds really were fleeing in a rush, Bitcoin wouldn’t just move this little; MSTR’s 144 form-related trading on that side hasn’t stopped over these two days either.
On the macro side, today there’s a big item: Jackson Hole is underway, and remarks could land at any moment. Initial jobless claims are 203K, even lower than the prior figure—employment hasn’t broken down. But in front of the central bank governor, this number still doesn’t stand out.
So tonight’s key isn’t in those pre-market percentage points. It’s in the tone of Jackson Hole. More dovish: U.S. stocks turn red to green at the open, and all the pre-market moves are just false alarms. More hawkish: risk assets get pushed down together, and the crypto market is unlikely to do well on its own. If tech stocks turn green after the open, then this entire read has to be recalculated.
$BTC $ETH
#Bitcoin
#US stocks
#Ethereum
MSTR was down 2.52% pre-market, COIN down 1.93%, and MARA and RIOT also all opened lower. But Bitcoin is only at 79201 right now, down just 0.97% over the past 24 hours. ETH is at 2485, down 1.81%. The stock side is suffering more than the crypto side—this is interesting.
According to the old-seasoned investors’ habits, first figure out whether it’s stocks that are falling or coins. MSTR is down 2.52% pre-market; Bitcoin is down 0.97% over 24 hours. The windows aren’t perfectly aligned, but this offset is there. It looks more like the market is re-pricing the company’s valuation than like someone is dumping BTC spot. If funds really were fleeing in a rush, Bitcoin wouldn’t just move this little; MSTR’s 144 form-related trading on that side hasn’t stopped over these two days either.
On the macro side, today there’s a big item: Jackson Hole is underway, and remarks could land at any moment. Initial jobless claims are 203K, even lower than the prior figure—employment hasn’t broken down. But in front of the central bank governor, this number still doesn’t stand out.
So tonight’s key isn’t in those pre-market percentage points. It’s in the tone of Jackson Hole. More dovish: U.S. stocks turn red to green at the open, and all the pre-market moves are just false alarms. More hawkish: risk assets get pushed down together, and the crypto market is unlikely to do well on its own. If tech stocks turn green after the open, then this entire read has to be recalculated.
$BTC $ETH
#Bitcoin
#US stocks
#Ethereum
