$-20%!
$VELVET This bearish candle blew straight through my stop-loss, crashing from 1.23 to 0.79 before rebounding to 0.89—a classic bull trap.
Don't rush to buy the dip; let's talk macro first. The Fed minutes turned hawkish last night, nonfarm payrolls beat expectations, and interest-rate futures showed the probability of a June rate cut falling to 45%, while Treasury yields surged to 4.3%. The Nasdaq plunged 1.8% last night, BTC followed down 2%, and SOL fell 4%. You expect a newly launched, fully circulating token to rise independently? Dream on.
I ran the numbers: VELVET's 30-day correl