Daily News 19

Tag: Profit-taking

  • HOOD Stock Slides 6% as Market Sell-Off Tests Robinhood Rally

    HOOD Stock Slides 6% as Market Sell-Off Tests Robinhood Rally

    Robinhood Markets (NASDAQ: HOOD) shares tumbled more than 6% on Tuesday as a broad-based selloff swept across U.S. equities, interrupting a recent rally that had lifted the stock above the $120 level.

    HOOD Underperforms Broader Market Decline

    The stock opened near $111.72 and slid to an intraday low of $105.86 before paring some losses. At the time of writing, HOOD traded around $107.02, down 6.39% on the session. The decline accelerated after an earlier 3.27% drop to $110.60.

    Source: TradingView

    Sector-Wide Weakness Weighs on Mega-Caps

    The selloff was not isolated to Robinhood. Market heatmaps showed losses across technology, financials, retail, and consumer sectors. Major names including Apple (AAPL), Alphabet (GOOGL), Microsoft (MSFT), and Amazon (AMZN) all declined in tandem.

    Source: TradingView

    However, HOOD’s 6.39% drop significantly exceeded the losses seen in most large-cap peers, suggesting that while the broader risk-off move played a significant role, stock-specific factors — likely profit-taking after the recent breach above $120 — amplified the decline.

    Technical Levels to Watch for HOOD Recovery

    From a technical perspective, the stock has surrendered much of its early September upward momentum. The Relative Strength Index (RSI) fell to 49.65, indicating balanced buying and selling pressure after a period of bullish momentum.

    Key levels for the near term:

    • Immediate resistance: The $110–$114 zone. A sustained move back above this area would signal returning buyer interest.
    • Critical support: The $105 level. A break below this floor could open the door to a test of $100.
    • Bullish scenario: If $105 holds, the stock retains room for a rebound once broader market sentiment stabilizes.

    Bottom Line

    HOOD stock fell 6.39% to $107.02 as losses spread across the U.S. market. The $105 area provides immediate support, while the $110–$114 range could cap any near-term recovery attempt.

  • Bitcoin Sell Pressure Hits One-Month Low as Long-Term Holders Reduce Profit-Taking

    Bitcoin Sell Pressure Hits One-Month Low as Long-Term Holders Reduce Profit-Taking

    Bitcoin On-Chain Sell-Side Risk Drops Below Half of August Peak, Glassnode Reports

    Bitcoin’s on-chain sell-side risk has declined to less than half its August high, signaling reduced potential selling pressure even as a significant cluster of older coins remains held above current market prices. Analytics firm Glassnode detailed the shift in a September 9 report covering on-chain data through September 7.

    Sell-Side Risk Ratio Falls to 7 Basis Points

    The firm’s Sell-Side Risk Ratio stood at 7 basis points per day on a seven-day basis, down sharply from 16 basis points at August’s peak. This metric aggregates on-chain profits and losses and divides the total by realized capitalization, measuring value realization relative to that capital base to indicate potential selling pressure.

    Long-term holders accounted for 47% of realized profit during the period, compared with 88% at the August peak. The decline suggests older holders are contributing a smaller share of the market’s realized profit, though the percentage does not measure their share of all Bitcoin sales.

    A ratio below half its earlier level does not mean the volume of Bitcoin sold on exchanges has halved.

    Profit Realization Spikes Moderate

    Glassnode separately reported that the realized-profit spike on September 3 was less than half the size of August’s spike. That comparison tracks profit spikes specifically, distinct from the seven-day risk measure. Together, the findings describe quieter realization activity and a changed mix of holders taking profits.

    Overhead Supply Cluster Holds at $83,000–$86,000

    The report identifies roughly 1.07 million BTC acquired between $83,000 and $86,000, almost all held by long-term holders. That block of coins barely changed over 30 days. The holdings remain potential supply, while the realization data describe what holders have recently been doing.

    Exchange Demand Remains a Separate Test

    Reports noted negative exchange spot flow on September 8. Spot cumulative volume delta (CVD) remained negative despite improving, meaning aggressive exchange selling still outweighed aggressive buying in that measure.

    CVD tracks the balance of executed trading, while sell-side risk tracks on-chain profit-and-loss realization relative to realized capitalization. A lower reading in the latter does not require the former to turn positive.

    Bitcoin holders are realizing less profit and loss relative to the capital base, while the overhead coins remain largely in place. Treating that entire block as immediate selling pressure would overstate the evidence. A sustained advance would still require buyers to absorb the supply that actually comes to market.

    Related Reading: Bitcoin’s next $80,000 breakout has $47 billion more profitable supply to absorb