A crypto analyst with a focus on market trends and identifying undervalued digital assets, specializing in both short-term opportunities and long-term growth st
Bitcoin ($BTC )just dropped $2,400 in an hour, while alts are in free fall as usual. Here’s why:
1. Everything is dumping
- Stocks are dumping today - Precious metals are dumping - Only DXY is up
This is a sign that investors are exiting assets, including crypto, and moving into dollar.
2. Weak economic data
- US home sales fell -8.4% last month, the worst in almost 4 years. - Initial jobless claims came higher than expected, which means a weak labor market. - All this indicates a weakening economy, which increases the odds of recession.
3. Government shutdown
- The odds of another government shutdown this week have risen to 96% - This is bad for the economy and markets as liquidity dries up during shutdown.
My thoughts - The US economy is now facing some turbulence. - This is affecting the stock market and the crypto market too. - I think this could continue for some time until Trump announces another trade deal or some liquidity injection to boost the markets
BREAKING 🚨 The Senate reached a deal to end federal government shutdown.
✅ The agreement funds the government through January 30th and schedules a December vote on the affordable care act bill. ✅ The deal reverses presidenta Trump’s firings of federal employees and adds provisions to prevent future such actions. ✅It also the ensures food stamps are funded through fiscal year 2025, according to recent sources.