$IREN and $CIFR are getting beaten down by the $META news today.

$IREN seems to be breaking below the high-timeframe support range where I increased my position yesterday, while $CIFR is still holding above an important POI, but so far there are no clear signs of strength on the intraday.
On the short term, I was expecting a correction like this across semis and AI chip companies.
That's also why, over the last couple of weeks, I've been reducing my exposure to $AMD, $INTC, $ASML, $MU, $NVDA and others, because they had become very overextended.
This pullback is completely normal in my view, and I think the $META news is simply the narrative that kicked off the correction.
Now it's simply time to re-accumulate at lower prices before a reversal to the upside.
There might still be a little downside left for the AI/HPC miners, but I believe a relief bounce is coming.
This also highlights the importance of diversification.
Healthcare and crypto were up today and offset most of the losses from $IREN and $CIFR, just like semis and AI chip companies offset my crypto losses over the past couple of months.
That's how liquidity rotation works.