BTC, ETH & SOL All “Take a Dive”
TL;DR
It felt like BTC, ETH, & SOL “took a dive” after worse-than-expected inflation data came in yesterday, but it was only a few percent, and it rebounded immediately.
Full Story
You know those viral videos of people freaking out in VR?
Where the person with the headset on is seeing things that aren’t real, but their limbic system is screaming:
“Dude, run as fast as humanly possible in a single direction (towards the dry wall, which you’ve already forgotten is directly in front of you)!”
From the outside looking in, it feels a little silly (cause we can clearly see they’re in a neutral space, with a floor and ceiling above them).
That’s kinda what it feels like to watch the market right now…
Cause yeah, it kinda felt like BTC, ETH, & SOL “took a dive” after worse-than-expected inflation data came in yesterday…
But in reality, they dropped a couple percent at worst:
BTC went from $69k to $67.6k
ETH went from $3.5k to $3.4k
SOL went from $170 to $162
(All before rebounding almost entirely across the board).
So here’s what to do if you want to sleep a little better:
Take the VR goggles off.
These bounces can feel violent & scary, but in reality, the market is largely being driven by Bitcoin, which is in a relatively neutral space with a solid floor ($60k) and ceiling ($73.5k) beneath/above it.
Until that floor is broken, there’s no need to be stressing.
…and if the ceiling breaks — that’s cause for celebration!