LIVE👉 Daily update for today's market trend
⭐Today is Memorial Day for the US. All US stock exchanges, including CME Futures is closed until Tuesday. So today is similar to a typical weekend market. The trading volume is low in general.
⭐There's not enough money to trigger any major pumps, interest rates are not going down anytime soon. Inflation is getting more controllable but still very high. We moved on to the subject of whether interest rates should be even higher or not.
Before the discussion was about potential rate cuts soon or later. Now rate cuts are not even mentioned. Meaning this inflation was left unchecked for too long and most likely needs another rate hike to barely control it.
This will cause massive economic crisis and stocks will crash (It is already in progress), people will be suffering from hyper inflation, there's no spare money to invest on some digital currency. These things only flourish when people have spare money to spend.
Anyways... for the major cryptos
💰 For $BTC : Things are not looking so good. I am still shorting from $69330, and it seems like the dump is going to progress for a while. Bitcoin has failed to surpass 70k smoothly, was stuck at the 68k~70k zone for a while.
There is no real incentive to buy Bitcoin at the moment. But it does not mean some doomsday, we were at 60k like, a few weeks ago. So a correction is necessary. Bitcoin will pump eventually, but it won't happen in a day.
💰 For $ETH : Same story as Bitcoin, except this thing had the massive ETF hype and that bubble is still there. So if ETH does start to dump, the correction will be more significant than Bitcoin.
That's about it for today, if you bought BTC or ETH at spot, just hold it. There's no reason to sell as retail if you bought them recently. IF you are in profit already, then you might want to sell and buy lower. If you are long, then you should 100% do risk management. I mean, this is basics for any investment.
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