The gains AVAX made on the NYSE news have almost completely evaporated in less than a day.
I wrote about AVAX here around midnight last night. At the time, it was up nearly 10% against ETH, touching around 8.9. I said I wouldn’t chase it that night, and that I’d watch two levels next: a high-volume break above 9.2, or a pullback to 8.3 that holds.
Neither happened. According to CoinGecko’s latest data, AVAX is now around 8.19, down 8.6% in 24 hours and already below 8.3. Over the past seven days, it’s actually slightly down—which means that news-driven pop has been completely erased.
AVAX itself isn’t what dragged it down. Tonight, U.S. CPI came in at 0.4% month over month, hotter than expected, and the market is pricing in a December rate hike. BTC is around 73,200, while ETH is down more than 5% to around 2,022. When the broader market sells off, the short-term traders who chased yesterday’s news are the first to run.
The hard lessons I’ve learned over the years have taught me one thing: gains fueled by news are often most at risk not when the news is disproven, but when the news hasn’t changed and the broader environment has. The NYSE proposal still needs regulatory approval, and it won’t use Avalanche alone. This is a long-term story, and it can’t withstand a night when rate-hike expectations heat up.
My approach right now is simple:
1. I didn’t chase yesterday, and I’m not rushing to buy the dip today. With 8.3 broken, the original plan is off the table.
2. If you really want to keep an eye on it, wait until it gets back above 8.3 and holds there for a day or two. Don’t try to catch a falling knife during a data-driven sell-off.
3. If you’re holding leveraged long positions, reduce your leverage before bed. U.S. stocks are still trading, and the volatility isn’t over.
One more thing: ONDO, which rallied along with it yesterday, is also down more than 5% today, back around 0.365. The tokenized U.S. equities sector heats up quickly—and cools off just as fast.
A genuine question: when you saw the NYSE news yesterday, did you jump in, or did you watch from the sidelines like I did?
$AVAX $BTC $ETH
This is only my personal opinion and does not constitute investment advice.
I wrote about AVAX here around midnight last night. At the time, it was up nearly 10% against ETH, touching around 8.9. I said I wouldn’t chase it that night, and that I’d watch two levels next: a high-volume break above 9.2, or a pullback to 8.3 that holds.
Neither happened. According to CoinGecko’s latest data, AVAX is now around 8.19, down 8.6% in 24 hours and already below 8.3. Over the past seven days, it’s actually slightly down—which means that news-driven pop has been completely erased.
AVAX itself isn’t what dragged it down. Tonight, U.S. CPI came in at 0.4% month over month, hotter than expected, and the market is pricing in a December rate hike. BTC is around 73,200, while ETH is down more than 5% to around 2,022. When the broader market sells off, the short-term traders who chased yesterday’s news are the first to run.
The hard lessons I’ve learned over the years have taught me one thing: gains fueled by news are often most at risk not when the news is disproven, but when the news hasn’t changed and the broader environment has. The NYSE proposal still needs regulatory approval, and it won’t use Avalanche alone. This is a long-term story, and it can’t withstand a night when rate-hike expectations heat up.
My approach right now is simple:
1. I didn’t chase yesterday, and I’m not rushing to buy the dip today. With 8.3 broken, the original plan is off the table.
2. If you really want to keep an eye on it, wait until it gets back above 8.3 and holds there for a day or two. Don’t try to catch a falling knife during a data-driven sell-off.
3. If you’re holding leveraged long positions, reduce your leverage before bed. U.S. stocks are still trading, and the volatility isn’t over.
One more thing: ONDO, which rallied along with it yesterday, is also down more than 5% today, back around 0.365. The tokenized U.S. equities sector heats up quickly—and cools off just as fast.
A genuine question: when you saw the NYSE news yesterday, did you jump in, or did you watch from the sidelines like I did?
$AVAX $BTC $ETH
This is only my personal opinion and does not constitute investment advice.