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Plus: Winklevoss twins make a bold privacy play |
You know that feeling when your phone slips out of your hand, you juggle it like a clown, and then watch it drop on the pavement anyway? (Screen down, of course.) That's crypto today - one of those slow-motion "oh noooo" moments. And opening the charts this morning felt like checking your screen protector after the fall. You think it might be fine, but deep down you know you're about to see some cracks.
Here's the deal: Big Tech had a bad day on Wall Street: Nvidia stock dropped by 2.89%, the semiconductor index dropped 1.58% as chipmakers got hit... Why the drop? Investors started talking about a possible AI bubble - they aren't so sure those sky-high valuations are justified. Plus, the US jobs report came in hotter than expected = the Fed likely won't cut rates anytime soon = that era of "cheap money → risk everything" might be stalling. The result: risk assets got the flick, and crypto was no exception. 👉 Bitcoin slipped under $86K; 👉 Ethereum dropped below $3K; 👉 And Bitcoin ETFs saw $903M walk out the door in a single day.
So what's it all mean? Simple: crypto's not living in its own bubble. If tech stocks take a hit, so do we - except we have bigger drops. But hey, it's not all doom. The amount of stablecoins sitting on exchanges went up. And when traders move cash into stablecoins instead of pulling it out of the market entirely, it usually means they're not quitting… they're waiting. For now, though, most folks are just tightening their seatbelts and refreshing charts like they’re checking a cracked screen for the 400th time.
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