Fundamentals Lean Bullish as Quantitative Tightening Enters the Picture

Key Takeaways

Meeting minutes from the March FOMC meeting were released today. The Fed’s posture leaned decisively hawkish as they introduced the prospect of QT starting as early as May.Despite the resurgence of macro headwinds, the bullish trend upwards for realized cap continued this week, indicating renewed demand for bitcoin.We revisit our LFG model from last week and adjust inputs for LFG’s recent purchasing activity.Staked ETH continues to march higher as confidence in the merge grows. However, more encouragingly, fees appear to be on the rise again.Bottom Line: We still find ample re...