Seth|Aug 02, 2026 13:10
SPY is still holding the support and the POC, which signals that we are not yet in a definite correction but rather a rotation.
Chip makers have been running so hot for a year and entered a profit taking phase. Liquidity is rotating and this is why the SP500 has been holding stronger than the Nasdaq 100.
BTC is also holding strong relatively because it has literally been dumping since October 2025. People can view this as Bitcoin being strong. The truth is that it has dumped so much that sellers are exhausted.
While the US stock market has been making new ATH... Bitcoin began the correction in October 2025 when the crypto massacre on the 10/10 happened.
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