Market sentiment took a nosedive, with US stocks crashing on Tuesday, the Nasdaq plummeting 3.3%, and chip stocks taking an 8% hit. Is the AI bubble about to burst? $BTC dropped 3%, as funds rushed to safer havens.
The main driver behind this is the easing tensions between the US and Iran. The Senate passed a resolution limiting Trump's war powers, and tanker traffic in the Strait of Hormuz has returned to pre-conflict levels, causing oil prices to drop and panic to subside.
But the key question is whether AI can still support these high valuations. Micron's earnings report is due tonight, which will be a litmus test for AI demand. PolyMarket gives a 96% probability for an earnings beat, quite optimistic! If the report falls short, tech stocks might continue their downward trend.
On the crypto front, there’s actually a lot of good news. $LINK has teamed up with 47 European and American banks for Project Pangea, aiming for T+0 cross-border settlements in euros and won, managing over $10 trillion in assets. Now that’s a real use case, not just pie-in-the-sky. $MNT has also put Franklin Templeton's USPX ETF on-chain, and the RWA narrative continues, with the fusion of traditional finance and Web3 being the way forward.
The market is currently digesting these updates, and a pullback in risk assets is quite normal. The crucial point is whether AI demand can sustain itself; if earnings reports disappoint, we might see further declines.
For $LINK $MNT, which has tangible use cases, I'm still bullish in the long run. $BTC will likely see short-term volatility; we’ll reassess once US stocks stabilize.
#BTC #Chainlink #RWA #Web3 #DeFi
NFA DYOR
The main driver behind this is the easing tensions between the US and Iran. The Senate passed a resolution limiting Trump's war powers, and tanker traffic in the Strait of Hormuz has returned to pre-conflict levels, causing oil prices to drop and panic to subside.
But the key question is whether AI can still support these high valuations. Micron's earnings report is due tonight, which will be a litmus test for AI demand. PolyMarket gives a 96% probability for an earnings beat, quite optimistic! If the report falls short, tech stocks might continue their downward trend.
On the crypto front, there’s actually a lot of good news. $LINK has teamed up with 47 European and American banks for Project Pangea, aiming for T+0 cross-border settlements in euros and won, managing over $10 trillion in assets. Now that’s a real use case, not just pie-in-the-sky. $MNT has also put Franklin Templeton's USPX ETF on-chain, and the RWA narrative continues, with the fusion of traditional finance and Web3 being the way forward.
The market is currently digesting these updates, and a pullback in risk assets is quite normal. The crucial point is whether AI demand can sustain itself; if earnings reports disappoint, we might see further declines.
For $LINK $MNT, which has tangible use cases, I'm still bullish in the long run. $BTC will likely see short-term volatility; we’ll reassess once US stocks stabilize.
#BTC #Chainlink #RWA #Web3 #DeFi
NFA DYOR