BLOODY FRIDAY IS HAPPENING.
Everything is crashing at the same time today, as nearly $3 Trillion has been wiped out.
STOCKS: US, Japan, Korea, Turkey, China, and Taiwan stock indexes have erased $1.7 Trillion from their market value today.
PRECIOUS METALS: Gold and Silver have crashed to new yearly lows, wiping out $1.07 Trillion.
CRYPTO: The crypto market has wiped out almost $140 Billion today after Binance's hack.
BONDS: US bond yields are rising today, which means bonds are selling off.
And here's the most shocking part.
There's not a single news headline that can crash everything at once, but global markets are still dumping like crazy.
I think this is panic selling before US midterms, as everyone is expecting a renewed US-Iran war.
$BTC needs a daily close above 50D MA now.
$80K has been held, and Bitcoin has already reclaimed the 50D EMA.
A close above $82K will give more control to buyers and will even be good for alts.
The FTX exchange crash marked the bottom for Bitcoin in the 2022 bear market.
The Binance hack will mark the bottom for BTC in the 2026 bear market.
Position accordingly.
WE JUST SAW THE LARGEST HACK IN CRYPTO HISTORY.
$5.6 BILLION just flowed out of Binance wallets across multiple blockchains.
Bitcoin suddenly dropped -$2,000 on the news and dropped below $79k, triggering a brutal $$600 million in long liquidations.
$80 billion erased from crypto in 15 minutes.
Tether and Circle acted fast and froze at least $2.316 billion in stablecoins.
CZ assures that user funds are safe, and will be fully covered. Binance says its investigation is still ongoing.
Bitcoin is now recovering.
🚨 THE FED JUST SENT A SERIOUS WARNING ABOUT INFLATION AND INTEREST RATES.
Fed Chair Kevin Warsh has finished his press conference, and his comments suggest the Fed is far from done fighting inflation.
Here are the biggest takeaways:
- INFLATION: Warsh said inflation is still too high and the Fed will not accept anything above its 2% target.
- MORE RATE HIKES: The Fed is ready to act again if needed but wants more economic data before deciding its next move.
- ECONOMIC GROWTH: Q3 GDP likely grew more than 3%, while business investment is rising at a double-digit pace.
- MARKET VOLATILITY: Warsh said he is not surprised by the recent volatility in financial markets.
- OVERHEATING ECONOMY: Most Fed officials do not believe the economy is running too hot, despite strong growth.
- FOMC CHANGES: The Fed plans to change its meeting schedule, with only six policy-setting meetings a year expected from 2028.
- POLITICAL PRESSURE: Warsh refused to respond to Trump's criticism and said the upcoming midterm elections played no role in the rate decision.
The biggest concern is that inflation remains too high even as the economy continues growing strongly.
Warsh made it clear that the Fed is willing to act again but isn't ready to commit to another hike without more data.
The last time Total Crypto Market Cap broke above the 1W MA50, it retested the level before starting a new cycle that added $3.3 trillion in market cap.
Holding above MA50 could set the stage for another major bullish move.
Things are getting interesting.
$BTC: Just a few more days until we start pumping
I know everyone is frustrated, but that’s crypto
The 200 EMA is key. My bottom target is $76K–$77K
Patience will be worth it
I am simply adding Alts
$CLANKER the best is ready
So many pumps ahead. That’s my promise! ❤️
Remember when Bitcoin first lost its Daily MA50 in 2023 after hitting its cycle bottom?
It turned out to be a "BEAR TRAP"
People thought the price would go lower, but Bitcoin eventually rallied to a new ATH of $126,000.
🚨 THE NEXT WEEK COULD BE VERY DANGEROUS FOR GLOBAL MARKETS.
Several major events could trigger massive market volatility next week.
MONDAY: U.S. markets reopen after Trump's warning of another strike on Iran. Brent crude oil is already near $117.
TUESDAY: U.S. employment, housing, and consumer confidence data.
WEDNESDAY: FOMC decision and Kevin Warsh press conference. Rates are expected to remain unchanged, but the Fed could hint at future hikes.
THURSDAY: U.S. PCE inflation and GDP data. Inflation is estimated at 3.6%, up from 3.4%, and with rising oil prices, another upward shock could happen.
FRIDAY: Japan unemployment and U.S. wage inflation data.
All this comes just days before the U.S. midterm elections.
Oil is surging, inflation fears are rising, and AI spending concerns are growing.
If inflation comes in hot and the Fed signals more rate hikes, stocks, metals, and crypto could face a major selloff.