WHY IS THE MARKET DUMPING?

Bitcoin just dropped below its 2021 ATH, while alts are in free fall. Here’s why:

1. Everything is dumping

- Stocks are dumping today

- Precious metals are dumping

- Oil prices are dumping

This is a sign that investors are exiting risk assets, and crypto is going down with them.

2. Too much FUD

- Epstein is Satoshi

- Saylor will go bankrupt

- USDT is depegging

- Quantum will kill Bitcoin

- Tom Lee will sell ETH

All these FUD narratives are hitting at once, forcing panic selling.

3. Weak job data

- January job cuts soared 118% YoY, now at the highest level since 2009.

- JOLTS job openings came in far below expectations, signaling a weak labor market.

- Yet the Fed remains hawkish and is pausing rate cuts.

This is raising recession fears, triggering a broad market sell-off.

My thoughts

- The crypto market is deeply oversold.

- Bitcoin’s weekly RSI is lower than during the FTX crash, and alts are heavily oversold too.

- The market looks very close to a bottom.

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