5/ Friday payrolls is the actual reset button. soft number = rate cut bets return = risk appetite comes back.
The macro that killed this rally is the same macro that can reverse it. watching $65k until then.
1/ $,BTC down 9.5% in 7 days while the S&P prints its 9th consecutive record high. same macro headlines, completely opposite reactions.
Something is absorbing all the risk appetite, and it's not crypto.
4/ And $BTC dominance is still holding at 58% through all of this. which means alts are getting hit harder than the chart shows. ETH RSI at 22.
The pain isn't equally distributed.
🩸 WARNING: $BTC JUST BROKE THE MOST IMPORTANT LINE IN ITS HISTORY.
14 years of support. Gone.
That trendline survived Mt. Gox. 2018. COVID. FTX.
It just failed.
@Nexo everyone panic selling BTC while the S&P keeps printing all time highs is so funny to me
liquidity just went to go look at the SpaceX IPO, it'll be back