The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm
**MACRO** - Meh day in macro again which saw stocks sell off about 0.4-0.5% while futures are ever so slightly in the green today. Interest rates have been interesting. as 2Y seems to stay anchored while back end of the curve seems to drift lower, thus greater curve inversion and a typical recession indicator. Today of course will be kind of a redundant day until payrolls tomorrow which will kick off another round of data after what feels like a long hiatus. Looks like the consensus for tomorrow is still 180k and we'll be hoping for that number to come in lower to see a market rally IMO.
**CRYPTO** - We saw a bit of a retreat finally with BTC down to 43.3k while ETH has held up better at 2250. It's funny that we consider this a retreat...a move from 44k to 43.3k when this time last week we were probably at like 38k or something lol. Alts generally seemed to sell off yesterday although SOL is staging a strong recovery to the mid 60s again today. Remarkably BTC dominance remains at very close to 55% and we are all wondering when we see the true alt season take place, I think most expect it may not happen until AFTER the BTC ETF and I think that's when ETH starts to outperform too when people look towards those approvals in the summer.
**NFTs** - Decent retreat across the NFT market over the past couple of days sees Pudgy Penguins back to an 8ETH floor while other collections have similarly lost steam. Not a surprising move given how much of a run we've had and it's only natural to see people take profits after what has been a powerful run. It doesn't appear there were many large sales yesterday with the highest value transactions continuing to be punks which seem to be ticking over and have held up relatively well. Rug Radio NFTs were a big winner as they climbed to a high of 0.4ETH after dingaling swept 150 of them, ahead of an announcement they are set to make at Art Basel this week. Think that's about it!
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GL Today!