The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm
**MACRO** - Stocks had a decent close yesterday ending up 0.4%. It's Thanksgiving today so markets are shut and I believe tomorrow is just a half day. We saw interest rates rally the slightest amount yesterday but not really a major move and I continue to think we may have seen the multi-year highs for rates for now, and the next move will continue to be lower. The data will kick off again next week with payrolls on Friday followed by CPI and FOMC the week after which will see out the the grand year of 2023.
**CRYPTO** - TBH some really good strength in majors after all the FUD we've seen this week with BTC at 37.2K and ETH at 2060...so pretty much at YTD highs and I think pretty much all of the bad news is out the way now except the US government sale which is what we're still waiting for (maybe an OTC deal with Blackrock there could be on the cards?). ETH has been the stronger of the two in the last 24H which has seen the ETH/BTC ratio climb back up to 0.055, while BTC dominance hovers at around 52.6%. Honestly I think we are set for a few very interesting weeks.
**NFTs** - Very decent day tbh with everything up 5-10% while ETH also pumped too - great result for NFT holders. I wonder if this is a delayed reaction to the $BLUR airdrop which btw has pumped about 50% or so in the past week. They were smart there with the staking incentive but I imagine some people must have monetised that drop. We saw a Politics is Bullshit sell for 55ETH which some deem as a sign of the start of an NFT bull market. TBH, the recent bounce in NFTs has surprised me and I have long felt that it would take a few months for NFTs to really rally post a crypto rally, but I suppose the difference now compared to 3 years ago is that the NFT market is much bigger, more mature and has lots more players in it so there's an argument to say there are maybe more trigger fingers and people who want to see it higher. Definitely I think now is a good entry point for many "blue chip" things but for me that's just the art market for now, ie you are not having to rely on any specific team executing a roadmap. Watch the space!
Find all of our charts on Degenz.Finance and make sure to subscribe to the Mando Minutes Newsletter at mandominutes.com for even more news on the Macro, Crypto and NFT landscapes:
GL today!