Weekly Market Recap 11/1 📊

Crazy last couple days and past week, but no real big change on the weekly for BTC. Like I posted last week, we basically just don’t want to break and close under $75K. Given we just had the biggest ever CEX hack and you can’t even really tell on the chart, I’d consider it a good thing. Some comparing this to FTX and saying how that was smaller and we nuked and that marked the bottom of the bear market and we 7.5x from there $16K > $120K, but that was way different scenario really and actual users lost money not just the CEX hot wallet etc. Either way I do think it’s a good thing we didn’t fall much from this.

S&P still at support on the daily and basically we just don’t want to break down here bc as we know crypto usually never be uncorrelated now if equities do fall a lot, maybe on LTFs but never like on big moves, we will always move with it. We do have midterms coming up could be a catalyst for markets. Hard to be bearish still, let’s see what this week brings.