📉 Markets See Red Across the Board Today was a brutal risk-off session for both crypto and traditional markets. The primary driver appears to be the ongoing US government shutdown, now at a record 35 days. The CBO warns it could slash Q4 GDP by up to 2%, and there are now cautions about potential airspace shutdowns. CRYPTO CRASH 💥 Bitcoin took a nosedive, breaking multiple support levels to plunge below the critical $100,000 mark for the first time since June. This triggered a cascade of liquidations, with $1.19 billion in longs wiped out in 24 hours and $250 billion erased from the total crypto market cap. Ethereum followed, falling to the low $3200s. On-chain data confirms an "altcoin winter" is deepening, with the Altcoin Season Index at a low 41. Despite the carnage, the BTC Long/Short Ratio is a high 1.92, indicating retail traders are attempting to catch the falling knife—a move that often precedes further downside. TRADITIONAL MARKETS FALTER 🏛️ US indices are deep in the red, with the NASDAQ down over 1.8%. Consumer-focused stocks have officially entered a bear market. The top decliners list is a sea of red, featuring travel, tech, and retail stocks. PALANTIR'S PARADOX 🕵️ Palantir ($PLTR) is today's main character. It crushed Q3 earnings expectations but the stock plummeted over 9%. This "sell the news" event was amplified by famed investor Michael Burry revealing a large put (short) position against the company. The CEO's defiant response has set the stage for a battle between bulls and bears. SECTOR SNAPSHOT 🪨 Even safe havens felt the pressure. Gold is down, trading around $3,936. This suggests investors are fleeing to cash rather than rotating into other assets amid widespread uncertainty. Key Takeaways: - Sentiment: Strongly risk-off. The government shutdown is the key macro fear impacting all markets. - Crypto: Bitcoin's break below $100k is a major psychological blow. High leverage from retail (long/short ratio) creates risk of a further long squeeze. - Equities: Tech and consumer stocks are leading the decline. The Palantir earnings reaction shows how negative sentiment can override strong fundamentals. - Outlook: Extreme volatility is expected. The resolution of the US government shutdown is the most critical catalyst to watch.