The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm
**MACRO** - Stocks are looking strong once again with SPX and NDQ closing 0.3-0.4% higher while futures are up strongly again this morning. I believe it will take both indices to new all-time highs today should the gains remain while futures open, while interest rates have chilled out and remain stable here. It's pretty insane, but stocks just keep keep going.
**CRYPTO** - I have to confess that yesterday I think I might have gotten overly bearish, with crypto prices bouncing this morning to north of 40K for BTC, 2250 for ETH and SOL really powering strong hitting as high as $88 this morning. It does look like we had another mega outflow from GBTC to the tune of about $515m, but it would appear that yet again a lot of that may have been offset by the nine new ETFs. It remains a question of how much this offset can continue and there's an argument to say that now that the FTX sale is done, the rest of the outflows will simply continue to be a rotation. Given how much fear has spread in the market, affecting people like myself lol, that would be a positive. I think there is still plenty of risk but given how much we've already moved, maybe the downside isn't as bad, or maybe it is, but maybe the probability of it happening is not as high as I thought and thus it's not worth trading to trade a potential dip, rather hold on for what this year could bring. Summary here is -- I think there are still lots of crypto market risks and I think you still want to be mainly holding things you are comfortable taking a 20-30% hit on, but there isn't a need to rush into panic selling and any meaningful dip is probably worth buying. I am back to normal thanks.
**NFTs** - The big cap ETH NFTs seem to be steady, but a lot of smaller priced NFTs from the 2021-22 era seem to be doing well. Cool Cats are up a lot, Doodles have staged an impressive comeback, whil ethere has been pretty strong activity in the likes of Chimpers and also Rektguy. I think a lot of these projects seem to have everlasting communities and so it's pretty nice to see that their staying power has given them strength to rally. These moves follow a very strong period for CryptoPunks after a few big sweeps, which often leads the NFT market. Could we be back? I think too early to say, but the signs are there. On Solana everything seems to be a bit higher with Froganas doing the most volume and climbing by 33% yday back to a floor prices of 8 SOL. Ordinals are pretty interesting; right now there's something called RSIC METAPROTOCOL which I think was maybe airdropped to a bunch of ordinal wallets and that currently stands at a floor price of 0.045 BTC, up 60% yesterday. Elsewhere everything seems to be fractionally higher with the usual suspects doing well.
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GL today!