GBTC Outflows Continue to Subside, Jupiter Volumes Skyrocket Ahead of Big Airdrop

Market Update This week is shaping up to be a significant one on the macro front, with the JOLTS report on Tuesday, the FOMC meeting and Treasury Quarterly Refunding Announcement (QRA) on Wednesday, PMIs on Thursday, and jobs data on Friday. Despite a downward trend in rates today, possibly hinting at the Fed's tone this week, DXY is climbing, largely due to a weakening Euro. In the equities market, major indices are showing relatively flat performance so far. Meanwhile, gold is experiencing a slight uptick, and $BTC is advancing towards $43k, following a weekend of steady prices and improving market sentiment due to slowing GBTC outflows. $ETH is moving higher but lagging the rest of the market as it approaches the $2300 level. $SOL is notably outperforming, once again challenging $100, driven by increased inflows into its ecosystem following a recent memecoin launch and in anticipation of a massive airdrop scheduled for Wednesday (more on this below). Other assets displaying outsized strength today include $INJ, $PYTH, $TIA, and $DOGE.The pace of outflows from GBTC has continued to slow. Despite negative flows for GBTC, we are now likely seeing more net neutral outflows (suggesting capital is rotating from GBTC to lower-cost alternatives) rather than outright selling. In any c