Just as the S&P plummeted into the abyss, tumbling to a low of 24,022 or over 1,500 points…
… cryptos found a bid, and after plunging all day in what until this afternoon was one of the worst days for bitcoin and the crypto space in history, cryptos suddenly blasted off and soared at precisely 3pm just as stocks were crashing, in the process undoing much of today’s staggering losses.
The move prompted some to ask if the new “great rotation” is out of crashing equities and into post-crash cryptos?
The good news: the 3pm is still here. The bad news, if only for stocks, is that it now appears to target cryptocurrencies.
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