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**MACRO** - OK I am back from my escapades in Scotland. I invested in a golf clothing company called Manors who did a little trip out there and we got to play Royal Dornoch (ranked as high as #3 in the world in 2022) which was probably one of the best experiences I've had in my life to date...for any avid golfers that read this shameless plug check out manorsgolf.com. Anyway back to markets...equities closed unchanged on Friday and are a touch lower today. It's pretty insane to see some consistent stabilisation at pretty much ATHs and it feels like it's here we can and will continue. Interest rates have come decently off their highs although are up slightly today with 10Y at 4.23%. The next big data point we're waiting for is payrolls which we will get a week on Friday, so we have a bit of time now for things to be chill, not to mention it's Easter this weekend and thus I personally expect things to grind a little higher.
**CRYPTO** - Last week was a tough week for ETF data as we had an outflow every day of the week, totalling almost $900m in those 5 days. A tough one with the pace of GBTC selling rising once again but I would note that the magnitude of outflows slowed towards the end of the week and personally I am hoping/expecting inflows to pick back up this week. Crypto prices are apparently hoping for the same thing with BTC back up to 67k this morning and ETH at 3450, with many alts catching up and bouncing meaningfully off last week's lows. Every bull market has pullbacks and that was a natural one for us, a healthy one too with funding/positioning materially cleaner than what it was a couple of weeks ago. Everything *feels* like to me that we are set to continue the rally this week, the main factor here is that we just need some strong BTC ETF inflow data and I think if we have a good inflow week prices are going to bounce fairly aggressively, I can feel it in the waters.
**NFTs** - A mixed bag for NFT projects over the last few days. Pudgies seem to have bounced back and stabilised around a 12.4ETH floor while Azuki is another unlikely contender to climb back up to a 4.7ETH floor. Ordinals continue to be strong with Bitcoin puppets climbing to a new ATH of 0.27 BTC while NodeMonkes shed a bit of steam back down to 0.67BTC. A project that's dominated Solana volumes recently is Howdy Hats which are serving as some sort of a presale-like instrument for an upcoming Solana memecoin called $HOWDY.
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GL This Week!
The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.