The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm
**MACRO** - Quiet day in macro sees SPX unchanged and Nasdaq down about 0.3%. Interest rates are on the move higher today with 2Y back above 4.7% and 10Y at 4.33%. Personally think we've seen the highs in rates and expecting that trend to go lower and lower. Allegedly the US bond market is on track for having its best month in nearly 40 years...which is crazy but not as crazy when you realise yields got to 40-year highs too so naturally we're set for elevated volatility. Worth noting that oil has been rising in the past few days and we're up to $79/barrel on WTI which is the highest we've been for a good few weeks since the Israel/Palestine conflict escalated. That's about it really.
**CRYPTO** - Drifting a little lower again with BTC down to 37.6k and ETH down to 2030 but tbh we're right in the channel with no big movement either way. ETH/BTC sits at 0.054 which is where it's been for a while BTC dominance has risen over the past few days and has climbed to north of 53% again. SOL has been off to the races once again and I believe hit $62 earlier before falling back below $60. Just simply feels like we are rangebound right now but my expectation is that we start to rally towards the second half of this month. Remember, Jan 10th is the ETF deadline and even though there's a good chance it's a sell the news event, it's hard to not anticipate a rally into it and I think we likely see new YTD highs before the end of the year, ceterus paribus. Kind of makes me want to put some levered longs on here but I keep getting liquidated on them so just have to acknowledge I'm not a good short-term trader lol.
**NFTs** - So on the NFT front have to mention that Solana NFTs are absolutely ripping. I suppose when you think about it, Solana as an ecosystem has become much more fruity compared to Ethereum of late, and it appears NFT action is no different. Mad Lads seem to be the top performer and they're up to a whopping 167 SOL floor, with Tensorians and Okay Bears following not so far behind. For the fellow ETH maxis out there, it kind of makes you wonder if we should be exploring new things right now and not just getting stuck in our old ways. ETH NFTs have been more quiet with most things unchanged other than Pudgy Penguins which are up another 11% to a price of 7ETH, taking it to what I believe are new ATHs or at least very close to. We saw some larger BAYC sales including a trippy spacesuit ape selling for 138ETH, funnily enough that's one that I minted and paper handed for 4 ETH lol.
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GL today!