๐ Crypto Market Alert: A sudden shift in sentiment has turned the crypto market bearish, with Bitcoin (BTC) and the S&P 500 forming head-and-shoulders patterns. This change is linked to the rising MOVE index, which measures volatility in the U.S. Treasury bond market. ๐
- The MOVE index climbed to 102.78, indicating tighter financial conditions and risk aversion.
- BTC dropped 5% to $96,900, while the S&P 500 fell over 1%.
- Both assets' post-election gains have lost steam since mid-December.
Will the Treasury market stabilize, or are we in for more volatility? Share your thoughts in the comments!