$HOOD The most gut-punching set of data this month: crypto trading volume was down 48% year over year, while event contracts were up 136%.
On Friday, BTC fell to around 68,000, dragging crypto stocks down with it. HOOD closed at 78.38, down 3.65%, and has already fallen below its 200-day moving average. But on Robinhood’s own books, users’ net deposits reached 15.1 billion and are still growing—the way it makes money is just shifting from crypto trading to betting on events and lending.
My take: in the short term, it’s still following BTC. The current perpetual price is 76.11; around 76 is a previous low, and if it fails to hold, 73 is in sight. On a rebound, the first area to watch is 80–84, where Thursday’s high of 84.68 is putting pressure on it.
Do you think HOOD can make up for the crypto shortfall with prediction markets?
#Crypto and U.S. stocks are both falling—what will drive the next rebound? #美股 #Cryptocurrency
$BTC
Just my opinion, not advice
On Friday, BTC fell to around 68,000, dragging crypto stocks down with it. HOOD closed at 78.38, down 3.65%, and has already fallen below its 200-day moving average. But on Robinhood’s own books, users’ net deposits reached 15.1 billion and are still growing—the way it makes money is just shifting from crypto trading to betting on events and lending.
My take: in the short term, it’s still following BTC. The current perpetual price is 76.11; around 76 is a previous low, and if it fails to hold, 73 is in sight. On a rebound, the first area to watch is 80–84, where Thursday’s high of 84.68 is putting pressure on it.
Do you think HOOD can make up for the crypto shortfall with prediction markets?
#Crypto and U.S. stocks are both falling—what will drive the next rebound? #美股 #Cryptocurrency
$BTC
Just my opinion, not advice
