The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm @everyone
**MACRO** - Decent close to stocks yesterday as the SPX and NDQ ended 0.3% and 0.9% higher respectively, while futures this morning are down ever so slightly. Interest rates cooled off a little yesterday but seem rangebound here for now, while oil continues to drop falling below $77/barrel which once again is nice to see and definitely an underrated occurrence rn in the inflation dynamic. Nothing more to add here macrowise, this Friday I believe is a US holiday so markets will be closed and thus I'm expecting a very quiet end to the week until we get to CPI next week.
**CRYPTO** - We had some weakness yesterday but there's been a rather solid recovery this omring with BTC at 35.3k and ETH back up to 1885. ETH/BTC is currently at 0.053 so we have dropped off a little bit in the past session or so. SOL has once again been the diamond performer and is back up to a price of $43, close to its YTD highs. There's definitely been a handful of alts that have performed very well over the past couple of weeks and anecdotally it feels like that's where people are chasing returns...which corroborates with BTC dominance falling in the past 2 weeks although worth noting we're up in the last day. On the whole, I once again am impressed by how well crypto is holding up; for a moment it felt like we were going to fall through the cracks yesterday but actually we really held on and rallied back. Much of this year has been a sell-strength mentality but now it feels like we're in a buy dip mentality.
**NFTs** - The green continues with BAYC, MAYC, Azuki, DeGods and Pudgy Pengiuins alll posting 5-7% returns over the past 24H continuing their good streak. We saw GordonGoner purchase a y00t, Penguin and Sappy Seal to add to his recent NFT spree and I think it's certainly doing a lot in terms of a morale boost to the space. CrypToadz have cooled off a little from their recent pump but still maintain a floor of 1.3ETH. Something that's worth noting is Blur SZN 2 ends in just under a couple of weeks, while the $BLUR token has almost doubled in the last few days. Interesting dynamic that, but there should be another $BLUR airdrop coming soon which could indeed act as a liquidity infusion to the NFT market. I think a few weeks ago if you asked people "would you spend airdrop money on NFTS?" they would have said no, but I think if you ask them today that answer might be a bit more varied. Either way, gonna be interesting to see.
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GL today!