"Trump crash"? Bitcoin once fell below 78K, and the fear and greed index reached extreme fear!
This article is machine translated
Show original
Here is the English translation, with the specified terms retained and not translated:
"Trump Shock" Turns into "Trump Plunge"? US stocks were sold off on Monday, with the NASDAQ 100 index plunging 4%, the largest single-day decline since October 2022. Bit once fell below $78K, Ethereum fell below $2,000, and the Fear and Greed Index reached Extreme Fear!
"Trump Shock" Turns into "Trump Plunge"?
The entire financial market's "Trump Shock" has evolved into a "Trump Plunge"!
Donald Trump was elected on a "pro-growth" agenda, but his erratic tariff agenda, belligerent attitude towards Ukraine, and measures to cut government salaries, combined with recent weaker economic data, have sparked investor concerns about stagflation or even recession.
Since Trump's election in November last year, the S&P 500 index has erased all of its gains, closing below the critical 200-day moving average for the first time since November 2023. Tesla plunged 15%. JPMorgan economists now see a 40% chance of a US recession this year due to the extreme policies.
In an interview with Fox News' Sunday Morning Futures, Trump talked about "transition". In last week's speech to Congress, he mentioned "unrest", and Treasury Secretary Yellen said the US needs to "detoxify".
Market funds are rushing into safe-haven assets, with the 10-year US Treasury yield falling 8 basis points to 4.22%. The US dollar rose 0.2%.
Bit Once Fell Below $78K, Fear and Greed Index Reached Extreme Fear
Cryptocurrencies are broadly declining. Bit fell below $78K, reaching a low of $77,459, below the February 28 low. BitMEX founder Arthur Hayes said $75K will be the next support level, and if it breaks below the $70K-$75K range, it will be a violent bloodbath!
(Bit Faces an $80K Defense, Does Michale Saylor Hint at Buying the Dips?)
Michale Saylor, founder of MicroStrategy, hinted at buying the dips in Bit: "If you still have more than one chair, this is your chance!" However, netizens jokingly said, "I only need one chair."
Ethereum fell below $2,000, closing at $1,886 before the deadline, down over 6% in 24 hours. The Fear and Greed Index has reached 20, indicating Extreme Fear.
Risk Warning
Cryptocurrency investment is highly risky, and its price may fluctuate violently, and you may lose your entire principal. Please carefully assess the risks.
Sector:
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content