The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm
**MACRO** - Equities staged a small rebound yesterday climbing by 0.6% on both the SPX and NDQ and futures have edged in the green again this morning. The big mover in the past 36H or so has been interest rates which is not surprising given they tend to rally in times of war; we're all the way down to 4.96% on 2Y and 4.56% on 10Y, both about 30bps or so off recent highs which is a large move. Interestingly oil has stayed relatively stable at $85, even despite what we're seeing out there we haven't even hit the highs that we saw last week; kind of makes me think that market feels (or hopes) that the current situation will de-escalate. It's still a big concern of mine because it's something that can really put a spanner in the works on many fronts so I think be cautious and watch out for that. Tomorrow we have CPI which will be very closely followed, markets have shown that they will react with a lot of sensitivity to economic data now and I would expect tomorrow to be no different.
**CRYPTO** - Continues to trade rather poorly; as I mentioned a couple of days ago the path of least resistance in the short term feels like it's lower. It's a frustration paradigm right now and one that will take some real momentum to break, but I do believe that will eventually happen. I still feel like we are in the final few months of capitulation before a paradigm shift of next month, or at least I hope so lol. As it stands BTC is at 27.3K and ETH at 1577, ETH/BTC continues to trade like shit as it hovers around 0.058, YTD lows, while BTC dominance remains strong at 51%. Once again, I'm not sure what near term catalysts we are looking for or waiting for here, but we can only hope that the sell pressure is getting close to subsiding.
**NFTs & Misc** - Not much notable price action across pfps in the past couple of days with things generally holding firm on quiet volumes. Refik Anadol's Winds of Yawanawa recently revealed and actually rose 15% to a floor price of 6.9ETH; it always pleases me to see post reveal price rises when people like and appreciate the art (although having said this it looks like they actually may have dipped post reveal before rebounding). Elsewhere Blur finally announced the end of its SZN 2 for 20th November...the question is will it be too little too late? Curious to see the net pnl of Blur farmers once that token has dropped. The last thing to mention is Gutter Cat Gang (yes I haven't heard that project in a while) recently got bought out - curious to see where that goes next it appears the ecosystem is up ever so slightly in price.
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GL today!