Did anyone buy OFFICIAL TRUMP at $70? I know someone who bought some at $25 and refused to sell when it hit $80 because he was expecting it to rise even more. I was expecting to see the same for my coins in 2025, but it seems like this bull market in crypto (if we’re still in one) is highly different from previous ones.
For the past few weeks, the stock market has suffered a heavy decline, and for a while BTC held pretty well, making some of the crypto heads think it had somehow decoupled from the traditional markets—but it seems that’s not actually the case. We’re sailing the same waves...
The Asian markets opened a few good hours ago and all we see is blood on the streets. Chinese market is down 8% today, Singapore’s stock market suffered its worst single-day crash in over 16 years, Taiwan’s stock index fell 9.8% at open and trading is now halted. What a mess Mister Donald Trump has caused...
We were supposed to win so much this year 😀. But hey, they call them reciprocal tariffs for a reason: they’re reciprocal. Which means that in order for the Trump-induced mess in the market to be over, countries that imposed tariffs on America will have to lift those tariffs. China seems determined not to do so.
But the Japanese Prime Minister says he’s ready to visit the US to negotiate tariffs with President Trump.
The current price action in the markets is historical, and some are looking at this Monday as somehow replicating Black Monday from October 19, 1987. I don’t know much about that Monday cuz I was barely one year old when it happened, but I sure as hell know that the severe correction in crypto that began earlier this year caught me off guard.
$1,350,000,000 was liquidated from the cryptocurrency market in the past 24 hours, and I bet many more liquidations are coming because degenerates will trade to make up for their losses—and they’ll lose more. That’s why they say spot is king. Well, it is. Because no one can liquidate your spot position.
I’ve been following the
@lookonchain Twitter account, and from what I see, a lot of traders—especially big whales—are getting liquidated on ETH lately. ETH has been an underperformer this cycle, and some people refuse to accept that, trying to nail the bottom of ETH’s future reversal. That’s gonna be a hard thing to pull off.
The drop might dig deeper, and if that happens... If $ETH drops to $1,119.3, a 220,000 $ETH ($340M) long position will get liquidated. That’s gonna hurt bad, and I hope these degenerate bastards learn something in the coming days/weeks. My hopes are that we’re going to see a lot of the memes get cleaned out of the space as well.
If anything led to this bull market getting ruined, it’s the meme coin craze. And Trump is the master rug puller here, cuz the launch of his official meme coin kind of marked a local top (if not the top). One thing looks sure though: Trump can stay crazy longer than other countries can stay solvent—which means they’ll all negotiate.
I wouldn’t trade this Monday though... However, considering that JPM is advising the Fed to cut interest rates—and JPM seems to be one of the founders and stakeholders of the Fed—we might have just gone through a COVID-like panic and a sharp rebound could be ahead. Inflation is winning the war this way though. The markets might rebound, but we’ll be dealing with inflation once again.
Well, at least we saw a reset in the price of oil with all the dumping recently. BTC is currently retesting the 2024 highs at $74,000. I don’t know what’s going to happen... All I know is this bull market (if anything) does not look similar to any previous one… which kind of sucks…
Thanks for your attention,
Adrian
