dropglobalnews

Haven’t seen a pain day like this in crypto in a while. 

I’d say it’s like 2022 but actually it feels more like March 2020.

Macro has the wheel.

Let’s see what next week brings.

For people who are wondering why crypto prices are tanking it’s part of a global decline in equities (already showing up in Asian markets) over fear of a massive regional war breaking out in the Middle East.

Writer, podcaster, and commentator on foreign affairs and politics. Runs /dropglobalnews

Clanker Broadcasting Service /cbs

My initial impression was that it was the fear of recession from the latest jobs report, but if it’s all global markets then it’s the war for sure.

A couple of things probably: 
1. Yen more expensive to borrow
2. US weakness
3. Geopolitical fears
4. Jump selling

Jump is clearly selling ETH hard and freaking out crypto and these other things (Japan rates, Iran-Israel, etc) are secondary. Now why Jump is selling is a more interesting story IMO than anything else going on rn...of course I'm crypto-centric focused.