Nasdaq falls over 2% as AI stocks sell off across the board
- Nasdaq fell 2.36%, the S&P 500 fell 1.19%, and the Dow fell 0.58%. Optical module stocks AAOI and COHR fell 7.89% and 6.26%, respectively; memory stocks WDC, MU, and SKHY fell 5.16%, 4.33%, and 6.13%.
- Nvidia slipped just 0.95%, while Tesla fell 2.97%. Valuations are being hit on both the compute and memory fronts, as risk appetite contracts.
High-beta AI assets are the first to get cut. Any spillover of liquidity into crypto will come later, not sooner. If BTC can’t hold its previous low in the short term, that will directly limit the rebound potential of ETH and SOL, and any bounce is unlikely to come with much volume. At these levels, would you dare place a limit order to buy BTC, or wait for a second test of the lows?
$BTC $ETH $SOL
- Nasdaq fell 2.36%, the S&P 500 fell 1.19%, and the Dow fell 0.58%. Optical module stocks AAOI and COHR fell 7.89% and 6.26%, respectively; memory stocks WDC, MU, and SKHY fell 5.16%, 4.33%, and 6.13%.
- Nvidia slipped just 0.95%, while Tesla fell 2.97%. Valuations are being hit on both the compute and memory fronts, as risk appetite contracts.
High-beta AI assets are the first to get cut. Any spillover of liquidity into crypto will come later, not sooner. If BTC can’t hold its previous low in the short term, that will directly limit the rebound potential of ETH and SOL, and any bounce is unlikely to come with much volume. At these levels, would you dare place a limit order to buy BTC, or wait for a second test of the lows?
$BTC $ETH $SOL