great insights mate, as always. any thoughts on ChillGuy? he's been bleeding forever now.
CRYPTO MECHANIC
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What Caused this market drop?
I think there are two possible factors that caused this market drop. Bitcoin looks fine but Alts took much bigger hits and it's because of the thin liquidity on Altcoins and big players are more interested in Bitcoin.
DeepSeek affect
Could be possible market took the hit because of the deepseek Ai model launch. It significantly dropped Nvidia stock and as Nvidia is one of the biggest companies on S&P500 index. it caused the drop on other stocks as well. And we all know Crypto usually follows stocks so.
FOMC & Interest rate decision This week
FED fomc meeting is due this week and it will bring a lot of volatility in the market. FED was cutting interest rates since Sep 2024 and we saw crypto and stock market surge since then. It is now likely that the FED will keep the interest rates unchanged this month based on the forecasted data. This could also be the reason why market dumped right after the weekly open.
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What you need to understand. When btc jumps from 67K to 72K. It stays for some time before (according to the last 2 weeks behaviour) goes back to support levels.
If you didn't buy Matic, ordi, avax, bel, jto, wif during 66-68K, you won't make money. If you buy the same at 72K and expect to double your bag at 80K, it's not happening. Buy reds, sell greens. Please. $BTC $BNB $SOL #BinanceLaunchpool