$SPY 744.78 (-0.13%) and $QQQ 712.60 (-1.73%) closed lower Wednesday, with tech leading the bleed and breadth tilted negative on the tape. Volume was unremarkable. Asia opens into the long weekend with desks thinned out: the buck 100.91, 10Y 4.489%, no real macro friction, just positioning into July 4th. EWJ flat at 93.14, EWH -0.62% to 20.93 pre-market.
But $BTC ripped 1.06% to 62,352 overnight while the trio dumped. Classic decoupling, exactly the kind of divergence that traps shorts leaning on a weak session. ETF flow +407.8M, total 135.15B still climbing despite the holiday tape. Fear gauge pinned at 22 (extreme fear), which historically is the kind of setup where the leader squeezes through overhead supply into thin books.
Watching 61K as support. If it holds into Asia open, lean bullish. Japan's 265 billion USD ETF program still a tailwind, and the BoJ has stayed quiet on YCC tweaks this week. Hong Kong regs have been friendly for months; not new, but flows are clean and the bid underneath is real.
GM traders. If Asia catches a risk-on bid off weak dollar and ETF support, we could see 63K tested by NY open tomorrow. Tight stops under 60.5K - that's the line in the sand. Lean into the squeeze but don't chase. NFA, DYOR. NGU!
#Stocks #BTC #Asia
But $BTC ripped 1.06% to 62,352 overnight while the trio dumped. Classic decoupling, exactly the kind of divergence that traps shorts leaning on a weak session. ETF flow +407.8M, total 135.15B still climbing despite the holiday tape. Fear gauge pinned at 22 (extreme fear), which historically is the kind of setup where the leader squeezes through overhead supply into thin books.
Watching 61K as support. If it holds into Asia open, lean bullish. Japan's 265 billion USD ETF program still a tailwind, and the BoJ has stayed quiet on YCC tweaks this week. Hong Kong regs have been friendly for months; not new, but flows are clean and the bid underneath is real.
GM traders. If Asia catches a risk-on bid off weak dollar and ETF support, we could see 63K tested by NY open tomorrow. Tight stops under 60.5K - that's the line in the sand. Lean into the squeeze but don't chase. NFA, DYOR. NGU!
#Stocks #BTC #Asia