At present, the expectations for the earnings of technology stocks this week have been greatly reduced by Meta.
Then the strength of the remaining US stocks may not be able to continue. Under the premise of the loss of new narratives in the crypto market, the mediocre performance of US stocks has also made the market lose its upward momentum in the short term.
Last week and earlier, I mentioned a point of view that if Bitcoin loses its new narrative after halving, and the US stock market also performs mediocrely, Bitcoin may have to enter a period of "junk" time.
It is the so-called weak rise, incomplete decline, the rise cannot effectively break through the key support, and the decline will not fall too deep to give people a chance to buy the bottom. It is basically a "junk" market.
If the meme is in an outbreak or concentrated outbreak at this stage, it basically confirms my point of view. When the market lacks a strong narrative and hot spots, traders' emotions are easily aroused by memes, and at the same time, some strong coins will appear in the meme market again.
Now it depends on where the new memes that have emerged in this round are.
