#美股史诗级抛售 #10月非农数据聚焦 #作手分析 🔥 U.S. stocks and crypto plunge together, leaving long positions underwater! Crisis or long-term opportunity? Trader breaks down the three key reasons behind the selloff
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$BTC $ETH $NVDA $GOOGL $ANTHROPIC On November 5, U.S. stocks and crypto markets suffered a sharp selloff. The Nasdaq fell 5.52%, the Philadelphia Semiconductor Index plunged 12.3%, and NVDA fell about 9%, with semiconductor stocks such as MU and AMD dropping even more. BTC fell below $76,000, while ETH, HYPE, and others also pulled back sharply.
I’m transparent about my live positions: my HYPE, GOOGL, and ANTHROPIC long positions are currently also showing unrealized losses.
But I don’t think this downturn means the long-term cases for AI and crypto assets are over. Some high-quality assets may, in fact, be presenting long-term spot opportunities worth watching.
I. Three reasons behind this selloff
1️⃣ U.S. midterm elections shift expectations for AI investment
The Democratic Party won control of both chambers of Congress, raising concerns that future data center construction, energy supply, and AI infrastructure investment could face stricter regulation.
But this is only the trigger. The deeper question is whether massive AI capital expenditures can translate into sustained revenue and profits. As the market starts questioning returns on investment, valuations may be repriced.
2️⃣ The AI industry shifts from storytelling to proving profitability
In the past, the market was willing to pay high valuations for AI growth. Now, institutions are paying closer attention to orders, revenue, profits, and cash flow.
Chip demand may remain strong over the long term, but data center construction requires massive investment. Financing costs, energy supply, construction approvals, and investment payback periods could all affect the pace of industry expansion.
AI hasn’t disappeared; the market is simply starting to demand that companies demonstrate real profitability.
3️⃣ U.S. stock losses combine with crypto market liquidations
U.S. tech stocks plunged, and risk appetite quickly declined. CoinDesk, citing CoinGlass data, reported that more than $1 billion in leveraged positions were liquidated in the crypto market over the past 24 hours, with longs accounting for the vast majority.
But the crypto market was already under pressure from ETF outflows, shrinking stablecoin supply, and other factors. The decline in U.S. stocks acted as a catalyst, while leveraged liquidations further amplified the losses.
II. Why is Trader starting to look for long-term spot opportunities?
My logic is simple: short-term price declines don’t mean long-term business value has disappeared.
For NVDA, I’m watching AI chip demand and orders; for GOOGL, cloud business and AI commercialization; for BTC and ETH, capital flows and ecosystem development; and for HYPE, platform revenue and token value capture.
Of course, a big drop doesn’t mean an asset is cheap. For assets like ANTHROPIC, which are still subject to valuation expectations, it’s especially important to watch financing, computing costs, and whether future revenue materializes.
III. What will Trader do next?
I handle spot investing and futures trading separately:
• Spot: Build positions in high-quality assets I’m bullish on in batches, spread out the buying period, and don’t go all-in at once trying to call the bottom.
• Futures: Don’t blindly add to positions just because they’re underwater, and never hold on indefinitely. Wait for signs of stabilization, a breakout, and a confirmed retest before looking for opportunities on the right side of the trend.
• Risk management: If fundamentals change or the price structure continues to weaken, reassess instead of stubbornly sticking to the original view.
Tonight at 21:30 Beijing time, the U.S. will also release its October nonfarm payrolls report. The data could further affect expectations for Fed rate cuts and the performance of risk assets.
Trader believes this correction is worth watching, but it’s still too early to declare that a bottom has formed.
Don’t try to call the top or bottom, and don’t chase the first big green candle. The macro sets the direction; the structure determines the entry.
How are you planning to respond to this selloff?
A. Build a spot position in batches
B. Reduce exposure and wait for confirmation
C. Stay bearish and wait for a deeper bottom
D. Wait on the sidelines for now
Let the market provide the answer instead of trying to predict it!
(Personal opinion for discussion only; not investment advice.)
