The current crypto dip is largely driven by broader macro factors, rather than crypto-specific news. Key contributors include:
- Higher-than-expected U.S. inflation, reducing chances of a December rate cut
- Massive leverage liquidations and SoftBank's exit from Nvidia
- Two subprime hedge funds blowing up, adding pressure on global markets
Fear and manipulation are also playing a role. However, crypto fundamentals remain unchanged.
The best approach is to:
- Stay calm
- Avoid leverage
- Focus on the long term
This correction is likely a result of global market conditions rather than issues within the crypto space itself.