Markets Await Fed Decision, ARB Airdrop

Market Update It is another wildly consequential week in global markets as the worldwide banking system continues to fend off liquidity concerns, and traders brace for a decision from the Fed on interest rates following their meeting on Wednesday. Bitcoin is coming off one of its best weeks in history, closing the week up 35% and moving north of $28k for the first time since last June. This afternoon, $BTC (+0.4%) is trading relatively flat compared to 24 hours ago, while $ETH (-1.8%) and other large-cap cryptoassets are seeing some slight pullback. The large-cap outperformer is $SOL (+5.4%), while $MATIC (-5.4%) trades in the opposite direction. Bitcoin layer 2 $STX (+3.8%) continues to perform remarkably well, likely benefitting from the outperformance in BTC as well as the official launch of Stacks 2.1 yesterday. Meanwhile, major equity indices $SPX (+0.2%) and $QQQ (-.7%) are turning lower on the day as traditional markets are still witnessing incredible rate volatility. The $MOVE (+7.2%) index is back above 180 as the US 2Y is back to 3.9%, approximately 30 bps higher than where it started in the early morning hours. In Friday's Weekly note, we discussed some measures the Fed is undertaking to inject liquidity into the domestic banking system and how it effectively ends an