The Arbitrum Council actually moved the coins from Binance’s $30 million hack, and now $ARB has plunged 6.55% in the midday session?
The overall market Fear Index is only at 26, and sentiment was already weak. It’s completely normal for a black swan event like this to trigger a sell-off—there’s no need to speculate wildly about some market-maker conspiracy.
For the outlook to turn bullish, we’d need to see rising volume absorbing the selling pressure and funding rates turning positive before we can say the price has bottomed. If support at $0.15 breaks, it could keep dropping.
Want to see whether the market can stabilize after this sudden black swan event? Join the #HalloweenPumpkinFrenzy event to get some practice in. Rewards are available until the end of the month—put your thesis to the test.
Are you still holding $ARB , or are you sitting on the sidelines? Reply 1 if you’re holding, 2 if you’re out.
#Write2Earn #BinanceSquare #ARB Arbitrum #TradingTournament
The overall market Fear Index is only at 26, and sentiment was already weak. It’s completely normal for a black swan event like this to trigger a sell-off—there’s no need to speculate wildly about some market-maker conspiracy.
For the outlook to turn bullish, we’d need to see rising volume absorbing the selling pressure and funding rates turning positive before we can say the price has bottomed. If support at $0.15 breaks, it could keep dropping.
Want to see whether the market can stabilize after this sudden black swan event? Join the #HalloweenPumpkinFrenzy event to get some practice in. Rewards are available until the end of the month—put your thesis to the test.
Are you still holding $ARB , or are you sitting on the sidelines? Reply 1 if you’re holding, 2 if you’re out.
#Write2Earn #BinanceSquare #ARB Arbitrum #TradingTournament
