Approval at 33%—even the bears are speechless
With two weeks to go until the midterm elections, Trump’s approval rating has plunged to 33%, while his disapproval rating is 66%. 52% of people strongly disapprove. For the first time in over a decade, Democrats are crushing Republicans on economic management. Rising gas prices are burning a hole in voters’ pockets, and the war with Iran is still going on.
Political uncertainty is through the roof, so risk assets are bound to get rattled. At this level, they’ll probably use the macro sentiment to stage a fake breakdown and shake out the market, clearing out some of the leveraged longs who chased the rally before picking a direction. The short-term tendency to follow drops but not rallies isn’t going to change, and pullbacks in high-beta assets like this will only be harsher. The big players won’t fire all their bullets before the election results are in.
Bullish brothers, sound off—what’s your cost basis, and are you brave enough to buy the dip this time?
$BTC $ETH $SOL
With two weeks to go until the midterm elections, Trump’s approval rating has plunged to 33%, while his disapproval rating is 66%. 52% of people strongly disapprove. For the first time in over a decade, Democrats are crushing Republicans on economic management. Rising gas prices are burning a hole in voters’ pockets, and the war with Iran is still going on.
Political uncertainty is through the roof, so risk assets are bound to get rattled. At this level, they’ll probably use the macro sentiment to stage a fake breakdown and shake out the market, clearing out some of the leveraged longs who chased the rally before picking a direction. The short-term tendency to follow drops but not rallies isn’t going to change, and pullbacks in high-beta assets like this will only be harsher. The big players won’t fire all their bullets before the election results are in.
Bullish brothers, sound off—what’s your cost basis, and are you brave enough to buy the dip this time?
$BTC $ETH $SOL