The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm @everyone
**MACRO** - Well not a lot to write home about here with stocks continuing to retreat, closing the day about 0.9% lower on both SPX and NDQ while futures are once again lower this morning to the tune of about 0.4%. It does look like interest rates have chilled out a little and are off their recent highs but levels remain elevated, while oil has surged to almost $90. Not much more to add here other than the continued rise in oil coupled with interest rates spiking are definitely of concern and it does feel like equities are finally giving way having remained strong for a long time.
**CRYPTO** - More interesting things to write here. Yesterday headlines hit that the SEC vs Ripple case will be dismissed; that is, the SEC is dropping all charges in their current litigation case. That's yet another huge win for crypto and a huge blow for the SEC who have basically given up here and accepted defeat. I think that's constructive for the ETF applications and it seems like the SEC is swiftly losing footing in its battle against crypto. It's worth noting that BTC dominance has surged recently, but I think this headline is a positive one for alts as it means there's a weaker case now for those being securities vs bitcoin (which is what caused BTC dominance to surge higher in the first place). I don't think we are up only from here and expect things to chop but it's nice to see positive headline after positive headline, eventually all of these will mount and cause the price action that we want to see. I'm certainly not thinking about selling anything here or trying to trade these small moves, I think that's missing the forest for the trees at a time we are so close to what could be the next escape velocity higher.
**NFTs** - Incredibly it looks like most NFTs are also in the green across the board with 5-10% moves, notbaly WoY bouncing back with vengeance to reach a floor price of 10ETH. It's a rare day to see ETH up NFTs up and I think the sooner we get upwards momentum in crypto, the sooner people start to feel rich again and will want to flex and get involved with NFTs. I think we are a while away from an NFT bull run but I do believe it will happen again.
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GL today and touch some grass this weekend!