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Suspected "1011 insider whale" Garrett Jin states that ETH and the Nasdaq 100 still have a high correlation, implying the price may rebound.
ChainCatcher message, suspected “1011 insider whale” Garrett Jin posted on the X platform that last week, the sell-off of AI concept stocks in the US stock market may have been caused by emotional misinterpretation by sell-side analysts of comments made by the CEO of Broadcom. This week, the artificial intelligence sector has begun to rebound broadly, including Oracle, which is still affected by debt issues. This trend usually indicates the end of panic sentiment. Garrett Jin added that currently, the correlation between ETH and the Nasdaq 100 index remains high, and the Nasdaq 100 has now fully recovered from the declines caused by those “bad news,” which may also imply that ETH will bottom out and rebound.