The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm @everyone
**MACRO** - After a mixed cloxed on Friday futures are starting the day in the green up 0.6% and 0.7% respectively on SPX and NDQ. Interest rates have progressed a little higher having had a strong Friday which takes us back to 5.06% on 2Y and 4.9% on 10Y. The FOMC is this week and concludes on Weds, and then we have payrolls on Fri. I don't expect much from the FOMC I think the market consensus is for rates to stay unchanged and Powell probably continues to be hawkish; I guess given rates are decently off their recent highs there is room for them to sell off. TBH I think payrolls is going to be the more interest metric here given what we had last month; curious to see if that continues or it normalises, and if there are any revisions to last month.
**CRYPTO** - Pretty strong price action to start the week as BTC sits at 34.6k and ETH at around 1810 which are closer to the higher end of the local ranges. I think it's pretty impressive that we've been able to hold these levels with not much new information coming out wrt ETFs as we still play the waiting game there. I suppose the market right now thinks that's a case of "when" not "if" and we all hope it results in a big normie onboarding event. There's been some good price action in memecoins which are once again taking focus after Bloomberg reported on Pepe's recent 75% surge from the lows. I'm still very bullish on that part of the market if BTC can hold or progress higher; I think that's where you're going to be able to make your 10-100x trades over the next few weeks and months, granted it's highly risky. IMO we are set for another interesting week in crypto and it's actually nice to be able to wake up and look at prices with some sense of excitement after a long period of slow bleeding.
**NFTs** - A lot of green on screen once again with BAYC leading the charge to climb to an FP of 30ETH while everything else appears to be up anywhere from 5-10%. It truly is a great result for NFT holders in the last few weeks as we've seen both NFT price and ETH prices tick higher meaning pretty solid returns in USD terms. Terraforms were a big mover in the art world yesterday after Vombatus swept 100 of them moving the floor price by 32% to 1.7ETH. The other thing to look out for are Captainz in the Memeland ecosystem which have risen to a floor price of 6ETH after it appears the upcoming $MEME token will get a Binance listing. The final big news in the art world is Jack Butcher and Snowfro to collab on "Snowpepen" which will be the next Opepen drop, we saw Opepens pump to an FP of .48ETH on the back of this.
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GL today!