US Equities:

Following yesterday’ PPI data, the Nasdaq squeezed before actually melting down.

Following yesterday’s PPI data, both the Nasdaq and the S&P 500 were at their long-term uptrend lines. We saw a big squeeze before the actual meltdown. This is usually the case when the narrative is bearish for the day and the technicals are right at support.

Bitcoin ($BTC):

Bitcoin rallied to $25,200 yesterday before subduing to sell pressure.

Bitcoin rallied to a high of $25,200 yesterday before succumbing to sellers as the broader market turned off its risk-on sentiment. The Crypto Fear & Greed Index returned to “greed” territory. We’re monitoring the most recent pivot point for $BTC ahead of the long weekend.

Dog Coins ($DOGE, $SHIB & $FLOKI):

Shiba Inu has been outperforming Dogecoin since the beginning of December by over 40%.

Elon Musk recently tweeted “The new CEO of Twitter is amazing” after sharing a photo of a dog dressed as a CEO. That was enough to pump $DOGE +6.1%, $SHIB +4.3%, and $FLOKI +39%.

Looking at the DOGE/SHIB ratio, we see Shiba Inu outperforming Dogecoin by 40%+ since December.