BlockBeats news, December 25, Garrett Jin, agent of the “BTC OG insider whale,” stated in a post, “Last week’s sell-off in the U.S. stock market’s AI sector was primarily driven by two factors: sell-side analysts’ emotional misinterpretation of Broadcom CEO’s remarks; and the narrative surrounding the extreme ultraviolet lithography ‘Manhattan Project.’ Essentially, both points are merely noise over the next 6–12 months.
This week, AI stocks have rebounded overall, even including previously weakest performers, such as Oracle, which is still burdened by debt issues. This typically indicates that panic has subsided and a temporary bottom has formed. The Nasdaq 100 index has fully recovered the losses triggered by these ‘negative headlines.’
Given ETH’s pronounced tech stock Beta (moving in the same direction with greater volatility) attribute, its correlation with the Nasdaq 100 index remains at a high level.”
