BlockBeats news, on December 25, 'BTC OG insider whale' agent Garrett Jin posted that the AI sector sell-off in the US stock market last week was mainly driven by two factors: the emotional misreading of Broadcom CEO's comments by sell-side analysts; and the narrative regarding extreme ultraviolet lithography 'Manhattan Project'. These two points are essentially just noise in the next 6–12 months.
This week, AI stocks have rebounded overall, even including those that performed the weakest previously, such as Oracle, which is still burdened by debt issues. This usually indicates that panic has ended and a temporary bottom has formed. The Nasdaq 100 index has completely recovered the losses triggered by these 'negative headlines'.
Given that ETH has a significant technology stock Beta (moving in the same direction with greater volatility), its correlation with the Nasdaq 100 index remains at a high level.
