So in the time what I was gone apparently the market has not gotten any better. Rather it has only let us down. I have seen that btc has gone down below 90,000 even. And it was fighting to stay above 87,000,000. At the time of writing, it has reclaimed the $90,000 Mark. But things are not much stable as of now. It is very much delicate. Things can go wrong very quickly from here. Although I would pray that it does not happen. Now let's see what is the current situation. It is not groundbreaking. Neither it is very encouraging. I would assume that these these bad situation in which we are all in, will continue for a while.
From what I have discovered, the government shutdown was again one of the key factors. I have already written something about it last week. But apparently it is still relevant. During the shutdown there were many leverage resets which made and the prices go down and institution investors were buying up during those downturns. No since the government is functioning again and the markets have been reacting to it, with the traditional financial markets responded with daily gains, it was expected that crypto will soon follow suit. But those same institutional investors who were buying, had started selling. In other words, they took out the small profit. That, along with many leveraged positions and options expiring within a couple of days from now is also a reason many are selling off their positions. The overall loss of more than 20% can be considered catastrophic in the traditional markets. But you and I we both understand that in crypto. 20% loss is just a lunch time break. It gets back up as soon as it goes down. Very vulnerable. So the current situation, although looking very bad and the overall mood in the market is very bleak, we could expect that it is simply a correction and the market will Read itself of bad leverages and options so that it can have a healthy gain.
For now I can only expect that it is a correction. And if it is a correction and then embrace yourselves because it may go farther down. Which is acceptable in the long run as eventually Bitcoin will be back and as for the others I really don't know.
Leverage trader are bound to pay the price in correction or pump.
In case of correction I think we should be used to with it.
I am hopeful that it is a correction. But then again, historical trends are not aligning this year, due to the excess integration of traditional markets.