Before the high-profile sell-off of over $4.23 billion BTC to ETH, giant whale Garrett Jin published a bearish view before the 1011 crash:
From a technical analysis perspective, at that time, U.S. technology stocks, A-share technology stocks, and major cryptocurrencies all showed overbought signals, such as MACD divergence.
Cryptocurrences have historically shown a highly positive correlation with U.S. technology stocks, leading us to believe that risk will shift between the two.
Since September 26, trade tensions between China and the United States have escalated, but investors have largely ignored the tensions due to bullish market sentiment.
These events suggest that trade tensions are escalating, which helps explain why both class A shares and the U.S. stock market went into safe-haven mode before the 1011 crash.
In addition, the market decline is not only driven by macro factors, but also due to internal structural instability: recently, both the US stock market and the cryptocurrency market have been driven by highly leveraged long positions, creating fertile ground for deleveraging crises similar to the 2015 class A share crash and the March 2020 US stock market crash.
Garrett Jin explains why he was bearish before the slump: The market is overbought, and trade tensions are escalating
2025-10-13 09:46:19
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