The most gut-wrenching lesson this month
The more BTC falls, the more it looks like a tech stock 😅
That AI stock crash on Thursday
The Nasdaq fell 5.5% in a single day
The Philadelphia Semiconductor Index plunged 12%
NVDA fell 9.3%
AI stocks have lost $13.2 trillion in market value
since their peak this year
Over the weekend, Jensen Huang got caught up in controversy again
The board announced an independent investigation
The AI narrative
used to be a tailwind that lifted BTC
but now it’s become an anchor dragging it down
The data speaks for itself
BTC has fallen 8.41% in 20 days
It’s now 40% below its all-time high of $126,000
RSI has dropped to around 36
Technically, it’s oversold
But we’ve seen oversold conditions several times this month
And every time, dip buyers got taught a lesson
What’s even more frustrating is the timing
U.S. stocks actually rebounded last Friday
The Nasdaq even gained 1%
Yet BTC still tested the lows on Monday
at one point tumbling to $73,510
ETH touched $2,060
ETFs saw $1.28 billion in net outflows last week
Institutional money is still flowing out
Put simply,
BTC is now a tech stock without earnings reports
When it rises, it rides the AI wave
When it falls, it does worse than the real thing
It doesn’t even get a chance to turn things around during earnings season
CPI comes out tomorrow
This week also brings PPI and earnings from AI cloud providers
Whether BTC can stop the bleeding
comes down to whether the macro backdrop cooperates
Do you think BTC being so closely tied to AI stocks
is a good thing or a bad thing?
$BTC $ETH
#市场观察 #AI #Bitcoin
This is not investment advice. DYOR. Trading involves risk.
The more BTC falls, the more it looks like a tech stock 😅
That AI stock crash on Thursday
The Nasdaq fell 5.5% in a single day
The Philadelphia Semiconductor Index plunged 12%
NVDA fell 9.3%
AI stocks have lost $13.2 trillion in market value
since their peak this year
Over the weekend, Jensen Huang got caught up in controversy again
The board announced an independent investigation
The AI narrative
used to be a tailwind that lifted BTC
but now it’s become an anchor dragging it down
The data speaks for itself
BTC has fallen 8.41% in 20 days
It’s now 40% below its all-time high of $126,000
RSI has dropped to around 36
Technically, it’s oversold
But we’ve seen oversold conditions several times this month
And every time, dip buyers got taught a lesson
What’s even more frustrating is the timing
U.S. stocks actually rebounded last Friday
The Nasdaq even gained 1%
Yet BTC still tested the lows on Monday
at one point tumbling to $73,510
ETH touched $2,060
ETFs saw $1.28 billion in net outflows last week
Institutional money is still flowing out
Put simply,
BTC is now a tech stock without earnings reports
When it rises, it rides the AI wave
When it falls, it does worse than the real thing
It doesn’t even get a chance to turn things around during earnings season
CPI comes out tomorrow
This week also brings PPI and earnings from AI cloud providers
Whether BTC can stop the bleeding
comes down to whether the macro backdrop cooperates
Do you think BTC being so closely tied to AI stocks
is a good thing or a bad thing?
$BTC $ETH
#市场观察 #AI #Bitcoin
This is not investment advice. DYOR. Trading involves risk.