TL; DR
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It felt like BTC, ETH, and SOL “took a dive” after worse-than-expected inflation data came in yesterday, but it was only down a few percent and recovered immediately.
Full story
You know those viral videos of people freaking out in VR?
Where the person with the headphones sees things that aren’t real, but their limbic system screams:
“Dude, run as fast as humanly possible in one direction (towards the dry wall, which you already forgot is right in front of you)!”
Looking in from the outside, it feels a bit weird (because we can clearly see that they are in a neutral room, with a floor and a ceiling above).
That’s kind of what it feels like to look at the market right now…
Because yes, it felt a bit like BTC, ETH and SOL “took a dive” after worse than expected inflation data came in yesterday…
But in reality they dropped by a few percent at worst:
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BTC went from $69k to $67.6k
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ETH went from $3.5k to $3.4k
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SOL went from $170 to $162
(All before it rebounded almost completely across the board).
So here’s what you can do if you want to sleep a little better:
Take off the VR glasses.
These surges can feel violent and scary, but in reality the market is largely driven by Bitcoin, which is in a relatively neutral space with a solid floor ($60,000) and a ceiling ($73,500,000) below/above.
As long as the floor isn’t broken, you don’t have to stress.
…and if the ceiling breaks, that’s cause for celebration!