The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm
**MACRO** - A red day for stocks yesterday saw SPX and NDQ fall by 1.5% respectively, although we've recovered most of those losses this morning in a promising bounce back. Interest rates are stable, maybe a touch lower. We get PCE tomorrow. That's it really.
**CRYPTO** - A lot going on. SOL hit new YTD highs yesterday and kicked on further to $88 today, while BTC still sits at around 44K and ETH massively lagging at 2250. ETH/BTC hit new lows of 0.049 yesterday before bouncing back while SOL/ETH was up like 13% or something yday to hit new YTD highs. It looks like there has been a lot of spot buying on SOL which is ultra bullish, funding rates for SOL are not as crazy as they are for ETH and BTC. INJ took a hit yesterday being the underperformer, while AVAX appears to be keeping up wit SOL. It continues to be memecoin mania with people bridging to basically every chain to buy the hot new memecoin. A lot of focus continues to be on WIF which is one of the highest volume coins on Solana, doing more on-chain volumes than BONK as it breached a $250m market cap today which is kind of insane given it was at like 1m or something just a couple of weeks ago. I think all the activity + spot buying on Solana means it goes a lot higher. It feel slike to me ETH can catch up a bit here and there seems to be a lot of rumours of a BTC ETF approval tomorrow on which I think we would rally as I think it would be a surprise in terms of timing. On the whole I would say be careful with shitcoins here as I think people are overestimating the current liquidity and it can drop off very quickly, but there is money to be made from rolling dice I think you just have to be very on the ball about taking profits.
**NFTs** - Nothing today I’m afraid, but here’s a photo of the charts.
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GL!