With a dip like this, things are looking grim. For now, the priority is survival! 😂
1️⃣ $BTC: Bitcoin remains stuck in a choppy, sideways range. Bullish moves should be viewed with extreme caution. On the downside, $88k is the line in the sand; if that breaks, we’re likely looking at a drop into the $70k territory.
2️⃣ $ETH: Reclaiming $3,000 today—now we watch to see if it can hold. As long as the weekly candle stays above $2,800, there’s still a fighting chance for a recovery in late January.
3️⃣ $SOL: Managed to push back above $130. Its short-term trajectory is heavily dependent on whether BTC and ETH can provide a stable floor.
4️⃣ Gold Rush: Gold is on a tear, hitting a fresh record of $4,890/oz. Interestingly, we’re seeing the largest on-chain gold bulls starting to take profits, with one major player netting $330k in gains.
5️⃣ Geopolitical Relief: Trump announced a framework agreement regarding Greenland and the Arctic, leading to a suspension of the tariffs previously scheduled for February 1st. This has temporarily eased global trade tensions.
6️⃣ Institutional Cooling: The basis arbitrage trade around Bitcoin ETFs is losing steam. CME Bitcoin futures open interest has retreated, signaling that institutional "cash-and-carry" players are reducing their exposure.
7️⃣ Fed Drama: Trump stated he will announce a new Fed Chair soon but expressed concern that his pick might become "disloyal" once they take office. (A classic Trump comment, considering he hand-picked Powell last time!)
The Takeaway: In a bear-leaning market, survival is the primary goal. Minimizing losses is far more important than chasing every "opportunity." Stay disciplined, stay liquid, and wait for a clearer signal. 🚀
