Bitcoin & Crypto Rally HALTED By This...

Market Update

The Bitcoin and crypto market experienced a sudden drop, with Bitcoin falling from $102,000 to $97,000. This drop was attributed to a job openings report that showed more openings than expected, causing Wall Street to sell off.

Cause of the Sell-Off

The economic data showed that many employers wanted to hire, which is a good thing, but Wall Street took it as a bad sign. This led to a broad sell-off in the US market, especially in tech, and hit Bitcoin and crypto as well.

Federal Reserve and Interest Rates

The sell-off was also due to the expectation that the Federal Reserve may not cut interest rates as much as expected. With better economic data, the Fed may have more ammunition to cut rates less, which is not what Wall Street wants to hear.

Bitcoin and Crypto Market

Despite the drop, many altcoins are still holding well. XRP is doing well, and Sui is still higher than it was a few weeks ago. The Bitcoin and crypto market is expected to recover, and the pre-market is already showing signs of a turnaround.

Regulation and Adoption

There are positive developments in regulation and adoption, with the SEC being cleaned out and new, more crypto-friendly regulators taking over. This is expected to lead to more favorable crypto regulations and rulings.

Investment Strategy

The host advises investors to not panic and to view dips as gifts. He recommends having a balanced portfolio with 50% Bitcoin, 25% big caps, and 25% small caps or microcaps. This provides stability and strength during volatile moments.

Q&A and Other Topics

The host answers questions from viewers, discussing topics such as Sammo's Salonas, XRP, and other altcoins. He also talks about his personal life, including his knee injury and his plans for the future.

Conclusion

The host concludes that the market will recover and that investors should not be scared out of the market. He advises viewers to smash the like button, subscribe to the channel, and tune in tomorrow for another update.