I'm going to speculate that it's because today is the last trading day in the US equity markets before the biggest companies start reporting Q1 earnings. This is important because the market is forecasting that we'll be seeing the highest year over year growth in earnings in 11 years due to recent tax reform. I think this will absolutely be a case of the market buying the hype and selling the news because it's unsustainable and there's very little bull case left in the foreseeable future whereas the bear cases are piling up (ie. Exploding debt growth, rising inflation and rates). Therefore i think a significant amount of smart money is hopping into crypto as a safe haven to hold onto wealth during these uncertain times.
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Well there we go - JPM beats on revenue and earnings, stock down almost 3% as of writing this, dragging the market lower
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