The January burst of a massive speculative bubble in Memecoins alone seemed like a good enough reason for the general sale of the market cryptocurrencies of the last weeks.
However, the descents accelerated big this week, partly thanks to the growing feeling of risk in the previously cheerful stock market.
It dropped more than 2% approximately 45 minutes before the closure of trade on Thursday, Nasdaq is now lower by approximately 7% in the last handful of sessions. Today’s losses are being led by chips manufacturers after the profit report of the fourth quarter of Nvidia (NVDA) last night. NVDA is lower by 5%.
The sale of shares occurred since many of the main names were sold in high valuations after what seemed months of non -control profits. Add the continuous tariff threats of President Trump, the last punitive levies against Mexico, Canada and China will begin on Tuesday, and the stage was prepared for the current correction.
“The maximum caution is justified in risk assets,” said Quinn Thompson, founder of the Lekker Capital Coverage Fund. “Inflation data are coming too hot so that the FED reduces the rates in the long term and long -term inflation expectations are not standing out for the rise (the great red flag) and now the economic data of the USA. UU. It seems that Trump’s ‘blow’ was a dead cat rebound.”
In Crypto specifically, there are no Thompson sub -management: “Every good possible news has arrived and disappeared without much upward pressure on the price,” he said. “Investors have forgotten that the bearish markets are possible and how they look.” It goes to the $ 70,000 for Bitcoin at the end of March.
