Garrett Jin, an agent for "1011 Insider Whale," clarified that Ethereum's recent short-term decline is not linked to the Greenland incident. Jin noted that the US stock market's downturn on Tuesday was primarily driven by sector rotation within the technology industry, particularly affecting artificial intelligence stocks, rather than macroeconomic panic.
The volatility in global bond markets, particularly in European and American bonds, was influenced by a bearish report from Deutsche Bank on the dollar and US Treasuries, which raised concerns about asset reallocation. Meanwhile, Japanese bonds were affected by domestic policy proposals. Efforts by Japanese financial institutions and government officials, along with reassurances from the US Treasury Secretary, have since helped stabilize the markets. Jin emphasized that attributing Ethereum's decline to the Greenland situation is unfounded, as the main factors were internal market dynamics and sector-specific movements.
Ethereum's Decline Unrelated to Greenland Incident, Says Insider
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