I’m a bit shocked the crypto market isn’t trading lower right now. Two top ten coins outright failed this week. I’d expect the crypto market to be lower.

Anyone else surprised? The macro economic factors look bleak. The nasdaq sold off like crazy, including Apple, ostensibly the top dog. One of the “most promising” crypto projects outright failed, alongside its stable coin. A stable coin failing breaches a lot of trust. That and Kwon sold off a ton of BTC (or so I believe, correct me if I’m wrong). I’d expect us to be lower right now.

I’m not saying we’re out of the woods yet. The first signs of Bear Stearns failing happened several months before the whole equity market collapsed. I’m not saying that this will happen, but I’m not naive enough to think it can’t happen either.

After consulting my crystal ball, I definitely think the crypto market will trade down, up, or sideways from here.

Why do you think the market is holding up? Do you also think that we should be trading lower?