Markets started the new week with a slight pullback.

The $VIX fear index opened with a 15% increase, and we are seeing a general pullback across all markets including $BTC, S&P 500, and Nasdaq.

The main reason for the pullback was Moody's downgrade of the US credit rating. This downgrade indicates that the US economy may be at risk, negatively impacting risky assets.

Therefore, we can say that the drop occurring after the night close is globally sourced. There doesn't seem to be any negative news or data on the crypto side for now.

Looking at the correlation between Bitcoin and the S&P 500 in recent months, we see that they are moving in the same direction.

While Bitcoin is more volatile percentage-wise, it moves in the same direction and time as global stock markets.

Thus, it has become necessary to follow the global side and act accordingly after the ETF approval.

Since there are no issues on the crypto side, I believe that as soon as the global side recovers, the upward trend will continue. As long as $100k is maintained, I don't foresee any major issues, friends.

Wishing everyone a great week and abundant profits.