Is Bitcoin's "Dip" Just a Prelude to a Total Crypto Meltdown?
Okay, so Bitcoin's "only" at $86k. Down 30% from its peak? Please. That's not a dip; that's the Titanic spotting the iceberg. We're supposed to believe this is just a "corrective phase"? Give me a break.
The whole damn crypto market is built on hopium and speculation. You got these "analysts" at Bitfinex saying losses are triggering a "wave of realized losses bigger than those seen at the two major lows earlier in the current cycle." Translation: people are finally waking up and realizing their magic internet beans aren't going to make them rich. Who could have possibly seen this coming?
Bitcoin at $86k on Japan Rate Fears, Bond Selloff Hits Markets
Bond Market's Got the Shakes: Thanks, Japan?
The Bond Market's Got a Fever, and the Only Prescription is More Cowbell (and Rate Hikes)
And it ain't just crypto. The bond market is doing the jitterbug because the Bank of Japan might—*might*—raise interest rates. After, what, decades of free money? Now they're hinting at tightening, and suddenly everyone's running for the exits.
Japan's 10-year government bond yields are at a 17-year high. Seventeen years! That's practically ancient history in internet years. And offcourse, the US Treasury yields are jumping too. It's like watching a slow-motion domino effect, except instead of dominoes, it's the global economy.
Speaking of dominoes, let's not forget about China Vanke, the Chinese developer begging for a year-long extension on their bond repayment. A *year*? That's not a liquidity strain; that's a full-blown cardiac arrest. Remember Evergrande? Yeah, good times. Are we really going to pretend this is just an isolated incident?
Manufacturing Sinks, Fed Panics, and We're All Screwed
Meanwhile, Back in the Real World... Manufacturing is Still Sinking
The ISM manufacturing PMI is still contracting. Nine straight months. Nine! And the Fed *might* cut rates in December? Maybe? Because, you know, the economy is totally fine.
"Softer tone in the data has reinforced bets that the Federal Reserve is nearing a turn in policy." That's what they're saying. What I'm hearing is: "We're panicking, but we don't want to admit it."
And what happens when the Fed pivots? More inflation? Stagflation? Who knows! All I know is, I'm stocking up on canned goods and ammo… wait, scratch that. I don't have the money for canned goods, let alone ammo. I'm just gonna keep ranting online. That's free, at least for now.
Crypto-exposed stocks are getting hammered, MicroStrategy, Coinbase, Robinhood, the whole shebang. It's almost poetic, watching these companies built on hype crash and burn. Then again, maybe I'm just being cynical. Nah.
So, We're All Doomed, Right?
