BitcoinLong
Risk Off Market, COVID, BTC Sell Off, Crypto Discounts
Just an observation regarding risk on and risk off sentiment. Lets talk about the stock market being in the biggest correction since the literal outbreak of the weird COVID Pandemic.
DOW, NASDAQ, and S&P having sold off so much and VIX holding higher levels than normal these past few years, reveals to me, a risk off sentiment... obviously. People are uncertain, times are uncertain, conflict, trade, and sanctions with Ukraine and Russia is uncertain, interest rates are about to go up... alot less YOLOing into
DOGE and GME...
Oil prices are soaring, gold is beginning to get close to all time highs and treasuries are up. clearly the big money is moving into a more defensive stance, and all the little money has been shaken out of the market. people are now taking profits or getting absolutely wrecked and scared out of the current positions that they were getting into at the top.... hence the major sell off in the stock market, high Volatility Readings, and a major sell off in the crypto currency market...
and guess what, the money is slowing into conservative safe havens such as gold, such as oil and treasuries and probably other safe haven commodities...
That being said, i would be on the lookout for some potential good news... and this is a TA pattern of the potential future of BTC as i see it. I dont buy alot of crypto but if i did i would be starting to find the right opportunities. seems like a relatively healthy pattern for BTC...
One last point... while the stock market is breaking recent swing lows and beginning to enter into the threshold of a bearish market, BTC is at least still ranging in a channel just above most recent previous lows....
just a nice little thought experiment that just played out in my mind that i felt like would be worth sharing...
thanks for reading.
DOW, NASDAQ, and S&P having sold off so much and VIX holding higher levels than normal these past few years, reveals to me, a risk off sentiment... obviously. People are uncertain, times are uncertain, conflict, trade, and sanctions with Ukraine and Russia is uncertain, interest rates are about to go up... alot less YOLOing into
DOGE and GME...Oil prices are soaring, gold is beginning to get close to all time highs and treasuries are up. clearly the big money is moving into a more defensive stance, and all the little money has been shaken out of the market. people are now taking profits or getting absolutely wrecked and scared out of the current positions that they were getting into at the top.... hence the major sell off in the stock market, high Volatility Readings, and a major sell off in the crypto currency market...
and guess what, the money is slowing into conservative safe havens such as gold, such as oil and treasuries and probably other safe haven commodities...
That being said, i would be on the lookout for some potential good news... and this is a TA pattern of the potential future of BTC as i see it. I dont buy alot of crypto but if i did i would be starting to find the right opportunities. seems like a relatively healthy pattern for BTC...
One last point... while the stock market is breaking recent swing lows and beginning to enter into the threshold of a bearish market, BTC is at least still ranging in a channel just above most recent previous lows....
just a nice little thought experiment that just played out in my mind that i felt like would be worth sharing...
thanks for reading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.