The bullish news was out in the open, but the market’s response was a sharp sell-off.
Backed by Standard Chartered, Ripple, and Circle all at once, $SC surged—but failed to hold its gains and quickly plunged 4.59% instead.
Support from top-tier institutions should have brought in serious buying, but in reality, buyers were nowhere to be found. The rally instantly turned into an opportunity for sellers to offload, with buyers absorbing the pressure. The good news failed to become a catalyst for further gains and instead became a source of liquidity for sellers.
If the market can’t hold up even with this level of backing, I’m not bullish on a rally driven by hype and lacking a solid base of buyers.
#SC
👇
Backed by Standard Chartered, Ripple, and Circle all at once, $SC surged—but failed to hold its gains and quickly plunged 4.59% instead.
Support from top-tier institutions should have brought in serious buying, but in reality, buyers were nowhere to be found. The rally instantly turned into an opportunity for sellers to offload, with buyers absorbing the pressure. The good news failed to become a catalyst for further gains and instead became a source of liquidity for sellers.
If the market can’t hold up even with this level of backing, I’m not bullish on a rally driven by hype and lacking a solid base of buyers.
#SC
👇
