Market Shifts from Precious Metals to Cryptocurrencies

According to Odaily, Garrett Jin, representative of '1011 Insider Whale,' shared insights on the X platform regarding current market dynamics. Jin noted that the anticipated short squeeze in precious metals has concluded, leading to a flow of capital into the cryptocurrency market. He had previously predicted that the rise in silver, palladium, and platinum was a temporary squeeze and unsustainable. Jin suggested that a reversal in prices could potentially drag down gold prices, prompting a shift of market funds from precious metals to Bitcoin and Ethereum. Furthermore, Jin highlighted the strong correlation between Ethereum (ETH) and the Nasdaq 10 Index, indicating that the Nasdaq 100 Index has now recovered from declines triggered by negative news. This recovery suggests that ETH might be poised for a rebound.