The Philly Semiconductor Index shed $2 trillion in seven days
The Philadelphia Semiconductor Index erased more than $2 trillion in market value over seven trading days, with AI computing-power stocks among the first to be hit by sell-offs. Risk assets are deleveraging across the board, so it’s hard for crypto to buck the trend on its own.
Liquidity dried up in premarket U.S. trading, perpetual futures funding rates turned negative, and leveraged longs started getting liquidated. There’s a dense overhead supply zone for BTC between $108,000 and $110,000; consider trimming if it rebounds into that range. If it closes below the $100,000 round-number level on the daily chart, the liquidation zone could extend toward $94,000. ETH is more volatile: $2,350–$2,400 is near-term support, and if that breaks, $2,100 comes into view. AI computing-power tokens like TAO have the highest beta, so their declines could be amplified. In this kind of market, market makers will only pull back their order-book depth, leaving them unable to absorb the selling pressure.
For those holding AI computing-power tokens, what’s your cost basis—and would you dare to place a bid at the $100,000 level in this sell-off?
$BTC $ETH $TAO
The Philadelphia Semiconductor Index erased more than $2 trillion in market value over seven trading days, with AI computing-power stocks among the first to be hit by sell-offs. Risk assets are deleveraging across the board, so it’s hard for crypto to buck the trend on its own.
Liquidity dried up in premarket U.S. trading, perpetual futures funding rates turned negative, and leveraged longs started getting liquidated. There’s a dense overhead supply zone for BTC between $108,000 and $110,000; consider trimming if it rebounds into that range. If it closes below the $100,000 round-number level on the daily chart, the liquidation zone could extend toward $94,000. ETH is more volatile: $2,350–$2,400 is near-term support, and if that breaks, $2,100 comes into view. AI computing-power tokens like TAO have the highest beta, so their declines could be amplified. In this kind of market, market makers will only pull back their order-book depth, leaving them unable to absorb the selling pressure.
For those holding AI computing-power tokens, what’s your cost basis—and would you dare to place a bid at the $100,000 level in this sell-off?
$BTC $ETH $TAO