The crypto market and stock market are down 1.5% due to economic data and earnings results. However, there is speculation of a potential move in the crypto market in the next two weeks, as the US and China engage in a “4D chess” game. The overall crypto market is down 1.6%, with notable drops seen in Polygon Matic, which the speaker believes is a good investment for the next bull run. Putin’s speech on Ukraine and earnings reports from Walmart and Home Depot also contributed to the market’s decline. Existing home sales in the US are declining, reflective of a soft real estate market. Walmart and Home Depot projected declining earnings, causing fear in the market.
The Current State of the Crypto and Stock Markets
The crypto market and the stock market are both down a little bit today, around 1.5 percent. There are a couple of different reasons for this, such as economic data and earnings results. However, there is a big event that might happen in the next two weeks that could impact the crypto market.
4D Chess in the Crypto Market Between the US and China
There are some 4D chess games being played in the crypto market between the US and China. It is essential to cover this to understand what could happen and position yourself accordingly.
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The Current State of the Crypto Market
Bitcoin is down by 1.3 percent, with Altcoins falling a little bit more. Polygon, for example, is notable for being down by about six percent.
Why Polygon is a Good Crypto to Hold for the Next Bull Run
Despite Polygon being down right now, it is still a good crypto to hold for the next bull run. It has pretty significant support at 1.35 cents, which is a key level to watch.
Polygon Lays Off Workers
Polygon laid off a significant number of workers today, which is big news for the crypto industry.
Reasons for the Stock Market Decline
There are various reasons why the stock market is down today. One of the most significant reasons is the 10-year treasury going up, causing equities to go down. Investors can get a higher yield on the 10-year treasury than risk assets.
Existing Home Sales and Earnings Reports
Existing home sales declined in January by 0.7 percent, showing a soft market for real estate. Earnings reports from Walmart and Home Depot show that the market might not be doing well in the next year, causing people to be worried.
The State of the Crypto Market and Stock Market Today
The current state of both the crypto market and stock market is down. There are many reasons for this decline, such as economic data and earnings reports. However, investors should be aware of the big event that could happen in the next two weeks that could impact the crypto market.