The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm
MACRO - Traditional markets had another soft day yesterday with SPX closing 1.4% lower and NDQ closing 2% lower. I can't really remember the last time interest rates did anything now and the curve continues to remain stable at 435/374/353/353 bps across 2/5/10/30y. Keep an eye on that next week tho. Oil has low key shown some pretty big volatility over the last few days and we currently sit below $74 which I think is back close to YTD lows. For equities, it feels like continued weakness post the ISM data we got 2 days ago and I suppose given the recent surge it's only natural to have somewhat of a pullback. Not really a whole lot more to add here but this time next week we will have the coveted CPI number and will be going into the FOMC which I really think will be a true point of inflection for the market one way or the other.
CRYPTO - Some weakness today which sees BTC down to 16.8K but ETH underperforming dropping about 5% to 1225 area. Most altcoins look about 5-10% lower to me. Probably in line with the macro weakness but not sure if there's anything more specific to crypto that's causing this. A lot of focus on $APE recently which has dropped back to below $4, it feels like the pre-staking commitment period has been a non event so far and we'll have to wait until 12th December to see any material price action there.
NFTs - Activity has been a little bit meh in the last 24H but most price action is green to the tune of about 10-20%. I really am watching for Yuga assets to lead the market, there's a lot of talk about $APE staking causing a "mini bull run" in NFTs and tbh I do subscribe to that theory. A lot of money that's on the sidelines can and will come into the ecosystem which I think trickles down to the NFT market as a whole in general. You've seen a lot of strong communities form and rise this year and I think these are going to be the the projects that see great strength and benefit from the next bull run. Don't forget, we also have a $BLUR airdrop in January which coincides with the calendar effect of the new year, so all in all I think there's stuff to look forward to here if you can remain in the "right" projects.
GL today!