There are 19 days until the midterm elections. With the election approaching, investors are turning to safe-haven assets in a big way. The CPI report merely added fuel to that sentiment and intensified the sell-off. This downtrend is likely to last at least through next week.
The decline in $ETH has been especially extreme. It has repeatedly broken through support and fallen to 2,300, with signs it could drop further. Tonight’s weekly initial jobless claims data will also affect the market’s short-term direction, though probably not as dramatically as the CPI report. The main thing to watch is how U.S. stocks move after the opening bell. If Bitcoin doesn’t decisively break below the key 80,000 support level tonight, there’s still some hope for long positions; otherwise, there’s a real risk of being deeply underwater or getting liquidated.
The giveaway drawing is on again tonight. If the market has left you physically and mentally exhausted these past couple of days, check out Sister Mu’s chatroom and get back on your feet 👇👇👇
The decline in $ETH has been especially extreme. It has repeatedly broken through support and fallen to 2,300, with signs it could drop further. Tonight’s weekly initial jobless claims data will also affect the market’s short-term direction, though probably not as dramatically as the CPI report. The main thing to watch is how U.S. stocks move after the opening bell. If Bitcoin doesn’t decisively break below the key 80,000 support level tonight, there’s still some hope for long positions; otherwise, there’s a real risk of being deeply underwater or getting liquidated.
The giveaway drawing is on again tonight. If the market has left you physically and mentally exhausted these past couple of days, check out Sister Mu’s chatroom and get back on your feet 👇👇👇