The Merge Approaches
Mar 17, 2022
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Weekly Recap
For the first time since December 2018, the Fed announced a benchmark interest rate hike of 25 bps and signaled for six more hikes this year. It is apparent that the market had priced this in (discussed further below) and is content with the lack of increased hawkishness despite rampant inflation.
Bitcoin and ether increased in lockstep with equities but remain largely range-bound, currently straddling $40k and $2.6k, respectively.
This week produced a relatively risk-on environment for crypto, as we saw web3, smart contract platforms, and DeFi all outperform currenc...