gm
**MACRO** - A lacklustre day for equities yday so things close unchanged while futures are the tiniest bit in the green to start the day here. Interest rates have obviously been weak recently but we have started to see levels come in a bit with 10Y now down to 4.39%. I don't expect much in the way of vol or price action today with tomorrow's inflation number being the main thing this week markets will wait for and want to react on.
**CRYPTO** - We saw good strength yesterday but ultimately it was somewhat faded after GBTC had another $300m+ outflow which has since resulted in crypto coming off its highs although BTC still holds >70K this morning and ETH above 3600. It's impressive to see crypto's resilience to a $223m overall ETF outflow number and my guess is that continues as we get closer to the halving; technicals do feel strong here to me with funding still low and a decent amount of spot buying going through. The main thing I think we all want to see fixed is Solana as the chain continues to be mostly unusable for many and has resulted in SOLETH dropping by over 10% in the past few days. Personally I think it serves as a good buying opportunity in Solana with some fixes slated to go through on April 15th but it will remain to be seen if this solves the issue or not. It's certainly a good thing that its usage is skyrocketing, but we do need to see some fixes applied to prove its scalability otherwise it's not great. I do think this has also caused Solana memes to be much quieter too and see some significant weakness with people being unable to transact for the most part, and new buyers definitely getting turned away. If you believe in the tech, this certainly proves a good buying opp, the problem is most of us don't even understand the tech lol!
GL today