Ansem: The market will correct in the short term; he is bearish on BTC, ETH and large-cap tech stocks, and expects market volatility to intensify in the fourth quarter.

Renowned crypto trader Ansem posted that he is bearish on Bitcoin (BTC), Ethereum (ETH), and large-cap stocks, noting that both BTC and ETH have broken below their medium-term trend lines and are poised to accelerate declines below $82,000 and $2,400 respectively. Ansem pointed out that this week’s Federal Reserve policy meeting and key earnings reports from multiple companies will bring significant event risks, and he expects heightened two-way market volatility in the fourth quarter, though some on-chain assets may still perform well. Regarding U.S. stocks, he believes the parabolic rally of AI-favored stocks may have neared a near-term peak, and the previous breakout of the Nasdaq 100 could be a false breakout. As AI companies continue to pour massive capital expenditures, investors will focus more on whether these investments can translate into actual revenue and profits. Meta’s post-earnings stock drop, paired with market concerns over current AI model safety issues, has further amplified uncertainty. However, Ansem emphasized that he is not bearish on the longer term; his current assessment is that the market may first undergo a correction before resuming its upward trend.