Lacklustre day in US equities with lowish market internals (e.g. up volume as % of total volume, and the % of advancing stocks vs total moves).
Lack of buying interest suggests there could be further short-term weakness. Crypto saw some very large down-moves overnight (MATIC down 18% peak-to-trough, FTT token down 45% peak-to-trough), on speculation that Binance could dump its large holdings of FTT (FTX exchange’s token) on the market.
Since the lows earlier this morning, crypto has now recovered at least half the losses. ETH and BTC short-term trend remains neutral.
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