10/10 brought Bear Market?
Last few days feel like the worst-case scenarios are starting to play out.
I’m even getting thoughts of pulling my chips off the table and walking away
The worst part? Even the “shutdown is over” headlines didn’t move the charts at all
Everything we wanted to see priced into crypto played out perfectly on the stocks side. Every move, every pullback, every pump and dump. But crypto? Zero reaction
The risk that the stock market is overheated and about to finally correct is still high. End of year, earnings, taxes — all of it stacking pressure
I’m not saying “sell everything” or “bear market is here”
But if the current levels will not be held, im not counting on a quick bounce or some bear trap
What’s most alarming is that we’re not reacting to positive macro news at all. Zero correlation on green days, but we fully dump when stocks dump
Feels like we’re literally frontrunning the coming crash
Rn I see less and less positivity or optimism for “tomorrow day.” No expectation that things will magically flip overnight
After October 10th something clearly broke in the market -- liquidity drained hard and sellers took over.
To grow, buyers need to outbid sellers, and that simply isn’t happening yet
TBH this is the easiest bear market I've ever seen.
Seems like most of you have forgotten what 2022 was like. Luna collapsing, then 3AC, then FTX, then Genesis, BlockFi, Axie, NFTs--pretty much everything felt like a house of cards.
And then after all that stuff collapsed, the BANKS collapsed, stablecoins depegged, Gary Gensler and the president tried to destroy almost every company in the industry--I really wasn't sure how much of this stuff was going to survive.
Compared to that? This is breezy.
Prices have gone down, yeah whatever. Fundamentals are great. Crypto is working.
So relax, get something to eat. Lock in. We'll be fine.
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