I didn’t expect U.S. stocks to fall this hard this week, while Bitcoin turned out to be the more resilient one 📊
Over the past 10 days, the Nasdaq has pulled back about 6%, but BTC has still held above $80,000. And keep in mind, the bad news has been relentless:
1️⃣ Higher-than-expected CPI
2️⃣ PPI above expectations
3️⃣ Quantum computing threat fears
4️⃣ Rumors that the U.S. government is selling Bitcoin
5️⃣ Controversy over new MSCI index rules
6️⃣ A broad sell-off in memory chip stocks
The longer-term view is even more interesting: BTC bottomed near $62,000 in August this year. Back then, the market was also being bombarded with news about hardware wallets being hacked and exchanges shutting down one after another. But BTC went on to rebound, climbing to around $87,000 in September.
My take: when bad news piles up but the price holds its ground, it suggests selling pressure is gradually being absorbed. But $80,000 is a key psychological level. If it breaks decisively, sentiment could reverse quickly, so don’t get carried away with your position size.
Do you think BTC is genuinely holding up this time, or just waiting to catch up on the downside? 👇
#纳指道指周度差距创2002年7月来最大 #BTC #ETH
$BTC $ETH
Over the past 10 days, the Nasdaq has pulled back about 6%, but BTC has still held above $80,000. And keep in mind, the bad news has been relentless:
1️⃣ Higher-than-expected CPI
2️⃣ PPI above expectations
3️⃣ Quantum computing threat fears
4️⃣ Rumors that the U.S. government is selling Bitcoin
5️⃣ Controversy over new MSCI index rules
6️⃣ A broad sell-off in memory chip stocks
The longer-term view is even more interesting: BTC bottomed near $62,000 in August this year. Back then, the market was also being bombarded with news about hardware wallets being hacked and exchanges shutting down one after another. But BTC went on to rebound, climbing to around $87,000 in September.
My take: when bad news piles up but the price holds its ground, it suggests selling pressure is gradually being absorbed. But $80,000 is a key psychological level. If it breaks decisively, sentiment could reverse quickly, so don’t get carried away with your position size.
Do you think BTC is genuinely holding up this time, or just waiting to catch up on the downside? 👇
#纳指道指周度差距创2002年7月来最大 #BTC #ETH
$BTC $ETH