Ansem: Seasonal Factors Plus CPI Will Cause Ongoing Correction in US Stocks, Funds Will Not Immediately Shift from Tech Stocks to Crypto

BlockBeats News, June 10th, Cryptocurrency KOL Ansem stated that the upcoming CPI data, next week's first FOMC meeting under Powell, and the dot plot overlaying the stock market's continued strength along with summer seasonal factors may trigger a risk-off market and a bottoming out phase in the coming months.

Ansem also believes that there will be no capital rotation from tech stocks to BTC or ETH at the moment, and specifically mentioned that MSTR stock is extremely weak with inadequate support below.

This morning, Ansem stated that he has shorted ETH at $1640, plans to add to his position in the $1680-1700 range, with a stop-loss at $1735.