The technology sector, which has a 36 percent weight in the S&P 500 index, directs the stock market more intensely than during the dot-com bubble period. This week’s fluctuation in artificial intelligence stocks had a negative impact on US stock markets. cryptocurrencies It was also affected twice by this and has been watching red candles for days. So what do different analysts and commentators say about this situation?
Technology Stocks, Stock Market and Crypto
cryptocurrencies Since it resembles technology stocks in character, it is categorized in this field. That’s why the shakeup in AI companies is shaking tech stocks, the shakeup there is shaking the US stock index, and both are shaking cryptocurrencies. We mentioned in the introduction that the weight of technology stocks in the stock market is even higher than in the dot-com bubble. When Alphabet, Tesla, Amazon and Meta are included here, more than half of the index is technology companies.
The sector fell by more than 3 percent in a week. Pioneers of artificial intelligence, Palantir and NVIDIA These are happening because of poor performance. There is uneasiness as the artificial intelligence bubble story begins to find buyers again, and where there is uneasiness, appetites are curtailed. It is not easy, there is a technology rally that has been going on for three years and the category has gained 186% in value. Much more than the S&P 500 index.
Scott Wren, senior global market strategist at Wells Fargo Investment Institute, said companies in the AI space are real cash flow companies and will continue to rise as strong capital spending continues. Last week, Powell expressed his opinion on the subject by saying, “Stories were finding buyers in the dot-com, artificial intelligence companies do not sell stories, they have real products.”
In summary, this is one of the main reasons for this week’s decline in cryptocurrencies and it does not seem to last for very long. If it continues for a long time, disruptive days will await global financial markets. So this isn’t just crypto’s problem.
Comments of Cryptocurrency Analysts
Moving on to analyst evaluations, Kyle Doops talked about his disappointment. Liquidations exceeding half a billion dollars again and the decline in open positions, indicating that risks have been reduced, show that interest rate cuts have not revived the appetite. However, in the October interest rate decision Fed He officially declared monetary expansion and, beyond the interest rate cuts, announced that the tight monetary policy would end as of December. If this is a very impressive bear trap, time will tell, but Kyle is cautious.
Ali Martinez said there were people returning to the game in the last 24 hours and added more than 10 thousand people. BTC purchase He drew attention to the whales that do this. If it indicates that sales have stopped, this should continue because it could allow us to reclaim $112 thousand in the short term.
ICP Coin It was one of the most hopeless cryptocurrencies because while others deleted zeros from the left of the price, it deleted 4 zeros from the right. Those were bad days. Thinking that there are still people buying and holding ICP over $500 may ease your pain if you are at a loss. Cryptobullet is pleased with the recent rise and has warned before, now warns there will be more. The analyst shared his target of $22, saying that ICP could bring profit to the pair for those looking for a short-term opportunity. The price is in the breakout zone just above $7 and bottomed near $2 weeks ago.
Meanwhile, those who followed saw how busy the agenda was throughout the week. CryptoAppsy The news section of the application can make your work easier with its quick summaries for free. You can easily download it for iOS and Android. It will help you to stay up to date.
Anbessa TAO Coin He was extremely hopeful for it and wrote the following;
“There is still potential for TAO.
But I don’t like that too many ordinary people have invested. Everyone with a low IQ had a chance to buy. “It’s not good at all.”
Your analyst TAO Coin target at $0.01.
November cryptocurrency For it to rise, interest rate cut expectations in the markets must remain strong. Yes that’s true. Currently, the interest rate cut expectation is at 70%. TKL, on the other hand, shares data confirming the continuation of the weakening in employment and reminds that the macro front is supportive for crypto.
“According to the ADP Employment Report, small businesses in the US added 10,000 jobs in October. This marks the 5th monthly decline in the last 6 months. As a result, the 3-month average job loss fell to 29,333, the highest number since the 2020 pandemic. The 3-month average has been on a sharp downward trend since November 2024. Small businesses are laying off jobs at crisis pace.”
