🔷 AI stock sell-off: KOSPI −4.1%, $BTC <$77K
Asian markets fell on fears surrounding AI, and Bitcoin is once again below $77,000.
1️⃣ What happened. KOSPI fell as much as 4.1% at one point, Taiwan 3.3%, and China 1.4%. On October 30, the US semiconductor index fell 7.2%, and the Nasdaq 2.86%.
2️⃣ Why. Massive AI spending, unclear returns, and debt. According to Reuters, October wiped more than $2 trillion off the Nasdaq 100’s market capitalization.
3️⃣ The connection to crypto. The 30-day correlation between BTC and the Nasdaq 100 is 0.68. Plus, ETF outflows and the November 3 election.
Personally, I’m watching the tech giants: while they’re falling, it’s hard for BTC to stay detached.
What’s more dangerous for BTC right now: stocks or ETFs? 👇
#CryptoRay #BTC
Asian markets fell on fears surrounding AI, and Bitcoin is once again below $77,000.
1️⃣ What happened. KOSPI fell as much as 4.1% at one point, Taiwan 3.3%, and China 1.4%. On October 30, the US semiconductor index fell 7.2%, and the Nasdaq 2.86%.
2️⃣ Why. Massive AI spending, unclear returns, and debt. According to Reuters, October wiped more than $2 trillion off the Nasdaq 100’s market capitalization.
3️⃣ The connection to crypto. The 30-day correlation between BTC and the Nasdaq 100 is 0.68. Plus, ETF outflows and the November 3 election.
Personally, I’m watching the tech giants: while they’re falling, it’s hard for BTC to stay detached.
What’s more dangerous for BTC right now: stocks or ETFs? 👇
#CryptoRay #BTC
