😴 U.S. stocks rise, crypto falls—is the correlation broken?
The Nasdaq rose 1.11% last night, and AI stocks bounced after bottoming out, but $BTC failed to hold the $82,000 level (currently around $81,600), while Ethereum battled around $2,400. The market just didn’t follow along. About $175 million in positions were liquidated across the market in 24 hours. Interestingly, short liquidations made up a larger share: longs got flushed out on the way down, while shorts also took profits. Neither side came out ahead.
Spot ETF flows are still net negative, and September’s hotter-than-expected CPI has further cooled rate-cut expectations, so valuation pressure won’t ease anytime soon. Even more striking, Ethereum has underperformed Bitcoin for five straight weeks, with the ETH/BTC exchange rate slipping to around 0.0293—is this a normal rotation in market sentiment, or are investors only willing to hold the big brother?
My short-term take: in a choppy market with decoupling and declining volume, the people most likely to get burned are those rushing to make a big directional bet. I wouldn’t recommend chasing shorts in the near term. Be patient and wait for sentiment to reach an extreme, or for confirmation at the psychologically important $80,000 level.
#比特币 #以太坊 #Crypto
Do you think this is a healthy correction, or a sign the market is weakening?
⚠️ Personal opinion only. DYOR and be mindful of the risks.
The Nasdaq rose 1.11% last night, and AI stocks bounced after bottoming out, but $BTC failed to hold the $82,000 level (currently around $81,600), while Ethereum battled around $2,400. The market just didn’t follow along. About $175 million in positions were liquidated across the market in 24 hours. Interestingly, short liquidations made up a larger share: longs got flushed out on the way down, while shorts also took profits. Neither side came out ahead.
Spot ETF flows are still net negative, and September’s hotter-than-expected CPI has further cooled rate-cut expectations, so valuation pressure won’t ease anytime soon. Even more striking, Ethereum has underperformed Bitcoin for five straight weeks, with the ETH/BTC exchange rate slipping to around 0.0293—is this a normal rotation in market sentiment, or are investors only willing to hold the big brother?
My short-term take: in a choppy market with decoupling and declining volume, the people most likely to get burned are those rushing to make a big directional bet. I wouldn’t recommend chasing shorts in the near term. Be patient and wait for sentiment to reach an extreme, or for confirmation at the psychologically important $80,000 level.
#比特币 #以太坊 #Crypto
Do you think this is a healthy correction, or a sign the market is weakening?
⚠️ Personal opinion only. DYOR and be mindful of the risks.