Hupzy (Spot On Chain)|Jun 05, 2026 19:43
๐จ ๐ก๐ฎ๐๐ฑ๐ฎ๐พ ๐ญ๐ฌ๐ฌ ๐ฝ๐น๐๐ป๐ด๐ฒ๐ -๐ฐ.๐ฑ% โ biggest daily loss of 2026
The Nasdaq 100 is in a straight-line decline, down -4.5% and accelerating into the close. This follows an earlier -3.4% drop reported hours ago โ the selloff has deepened with no intraday bounce.
**Hupzy take:** A -4.5% straight-line Nasdaq decline is a capitulation-pattern read. Tech equities are the primary liquidity proxy for crypto โ when Nasdaq sells off this hard, BTC and ETH tend to follow with a lag. The acceleration from -3.4% to -4.5% within hours suggests institutional program selling, not retail panic. This is the kind of macro risk-off day that can extend crypto drawdowns well beyond what on-chain fundamentals would justify.
--source: https://x.com/KobeissiLetter/status/2062975596934664647
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