【Daily Market Brief #001】Haha! Yep, that’s right! The market is down again, and it’s falling in a very steady rhythm.
As of 8:35 this morning, BTC was at $63,837, down 6.39% in 24 hours, after briefly plunging to $63,320 intraday. ETH was even worse at $1,756, down 8.97%—nearly 10% in a single day. BTC’s market cap is down to $1.35 trillion, and both major coins have fallen more than 10% in five days. The Fear & Greed Index is down to just 10: extreme fear. Let me tell you, when the index hits 10, it means hardly anyone in the market dares to be bullish anymore.
Put simply, there’s a reason for this sell-off: BTC has slid all the way down from $71,460, losing nearly 11% in three days, while ETH broke straight through $1,800 after trading above $2,000. A drop can be a good thing! Why? Because times of panic are when you can see clearly who’s been swimming naked. If BTC holds $63,000, that’s the bulls’ last shred of dignity; if it doesn’t, there’s nothing but open space below.
But then again, extreme fear is precisely where reversals love to hide. Hear me out: now’s not the time to chase shorts, and it’s not the time to buy the dip either. It’s time to keep your eyes wide open and watch the market.
Follow me, and I’ll be back at the same time tomorrow to watch the market with you.
Data source: Binance Skills Hub. For reference only; this is not investment advice.
$BTC $ETH
#BTC #ETH #DailyMarketBrief
As of 8:35 this morning, BTC was at $63,837, down 6.39% in 24 hours, after briefly plunging to $63,320 intraday. ETH was even worse at $1,756, down 8.97%—nearly 10% in a single day. BTC’s market cap is down to $1.35 trillion, and both major coins have fallen more than 10% in five days. The Fear & Greed Index is down to just 10: extreme fear. Let me tell you, when the index hits 10, it means hardly anyone in the market dares to be bullish anymore.
Put simply, there’s a reason for this sell-off: BTC has slid all the way down from $71,460, losing nearly 11% in three days, while ETH broke straight through $1,800 after trading above $2,000. A drop can be a good thing! Why? Because times of panic are when you can see clearly who’s been swimming naked. If BTC holds $63,000, that’s the bulls’ last shred of dignity; if it doesn’t, there’s nothing but open space below.
But then again, extreme fear is precisely where reversals love to hide. Hear me out: now’s not the time to chase shorts, and it’s not the time to buy the dip either. It’s time to keep your eyes wide open and watch the market.
Follow me, and I’ll be back at the same time tomorrow to watch the market with you.
Data source: Binance Skills Hub. For reference only; this is not investment advice.
$BTC $ETH
#BTC #ETH #DailyMarketBrief