The crowd got heavily liquidated on the bounce from a strong D1 resistance level(112 600). Over $100M in liquidations. Overall though, the trend is still bearish for now. The drop started last week after the hot PPI numbers and Bessent’s comments.
Right now, the market is under pressure from negative sentiment, rate cuts aren’t expected to be as aggressive, and seasonally September is also a sell-off month for stocks, so people are locking in profits. Just yesterday, there were $500M outflows from BTC ETFs and another $500M from ETH ETFs.
This bounce we’re seeing now looks like nothing more than a technical rebound. Fundamentally, things would only shift if we get some positive surprise on rates or something of that kind. Later today we’ll get the minutes from the last Fed meeting, back then the hot PPI print wasn’t out yet, so the market might spin them in a more positive light. That could give us some short-term upside, but in the bigger picture, continuation of the bear trend still looks more likely.
Right now, the market is under pressure from negative sentiment, rate cuts aren’t expected to be as aggressive, and seasonally September is also a sell-off month for stocks, so people are locking in profits. Just yesterday, there were $500M outflows from BTC ETFs and another $500M from ETH ETFs.
This bounce we’re seeing now looks like nothing more than a technical rebound. Fundamentally, things would only shift if we get some positive surprise on rates or something of that kind. Later today we’ll get the minutes from the last Fed meeting, back then the hot PPI print wasn’t out yet, so the market might spin them in a more positive light. That could give us some short-term upside, but in the bigger picture, continuation of the bear trend still looks more likely.
When I saw the news yesterday that Google searches for “altseason” dropped by 50%, my first thought was that altseason might actually be close. On the last pullback the rotation was really clear, ETH jumped almost 10% while BTC only moved about 2%. Yeah, ETH already woke up back in July, but these latest moves on the dips show there’s still plenty of growth potential and maybe even more ahead. It’s still too early to call it altseason, since I’m leaning toward a market correction in August–September like I mentioned earlier, but if these trends during BTC pullbacks keep going, the crowd could easily catch FOMO — and that would push btc dominance down and trigger altseason… In other words, this bearish phase might actually turn out to be positive, because the crowd might start rushing to buy up these pullbacks.
Powell looks positive in Jackson Hole
TRADERS RESUME FULLY PRICING IN TWO FED RATE CUTS BY YEAR-END
TRADERS RESUME FULLY PRICING IN TWO FED RATE CUTS BY YEAR-END
The Wolf Of Few Streets
Powell looks positive in Jackson Hole TRADERS RESUME FULLY PRICING IN TWO FED RATE CUTS BY YEAR-END
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If that guy in the elevator turns out to be Trump… good luck with just saying ‘thank you’. 🤣
The U.S. Department of Commerce has chosen Pyth Network to verify and distribute economic data on the blockchain.
The U.S. government will initially publish commercial data on 9 blockchains (Arbitrum, Avalanche, Base, Ethereum, Mantle, Optimism, Sonic, ZKsync), with Link and Pyth serving as oracles.
Looks like World Liberty Financial ($WLFI) is finalizing a 47M token burn through multisig — with 2 out of 3 signatures already secured. Pump?
Bullish NFP released
U.S NONFARM PAYROLLS (AUG) ACTUAL: 22K VS 73K PREVIOUS; EST 75K
U.S NONFARM PAYROLLS (AUG) ACTUAL: 22K VS 73K PREVIOUS; EST 75K
The SEC just pumped crypto.
SEC SAYS 401K PROVIDERS CAN NOW INCLUDE BITCOIN & CRYPTO
SEC SAYS 401K PROVIDERS CAN NOW INCLUDE BITCOIN & CRYPTO
He’s just whipping the market back and forth…
Trump on Truth social
Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!! President DJT
Trump on Truth social
Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!! President DJT
The Wolf Of Few Streets
He’s just whipping the market back and forth… Trump on Truth social Don’t worry about China, it will all be fine! Highly respected President Xi just had a bad moment. He doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help…
6 billion worth of shorts will get liquidated at 116K 🤣
Powell is bearish today
POWELL: ANOTHER CUT IN DECEMBER IS FAR FROM ASSURED
POWELL: ANOTHER CUT IN DECEMBER IS FAR FROM ASSURED