Crypto Research
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BACK TO LIFE If you were 100% deployed on January 1st and decided to lock in your returns for the year, frankly, we wouldn’t blame you, especially not after the carnage witnessed last year. However, as we discussed last week, we view this current rally as a sign of more opportunities to come and are excited to help our clients navigate the crypto market in 2023. The choppy, directionless crypto...
Markets are reacting favorably to signs of cooling inflation. This morning, the Commerce Department announced spending by US households decreased by 0.2% MoM, with PCE (Fed's current preferred gauge of inflation) rising 5% in December (vs. 5.5% in November). December Core PCE rose 4.4% (vs. 4.7% in November), growing at its slowest pace since October '21. ^SPX 0.84% and NDAQ 0.66% are trading 0.3% and 0.7% higher, while QQQ 0.90% is 0.8% higher...
After a bit of a correction last night, crypto markets remain largely flat on the day. BTC is down 0.29% and ETH is down 0.72%. Traditional markets have pulled back a bit as well, with SPX down 1.34% and NDQ down 1.88%. An interesting development we've seen over the past couple of weeks is a 12.4% pullback in the ETH/BTC ratio. This could potentially be due to investors positioning into...
Traditional indices are declining today, with the ^SPX 0.84% and QQQ 0.90% both down 0.34% at the time of writing. All eyes will be on Microsoft after-hours, which will be one of the first large tech companies to report earnings this year. Crypto markets are following suit, with BTC down 0.35% and ETH down 0.73%. ETH/BTC continues its recent decline, falling to .07 (-0.58%) as Bitcoin seems to be reclaiming its crown...
On Monday, US equities rose as investors considered the potential for a slowdown in interest rate hikes from the Federal Reserve and prepared for a busy week of earnings reports. The ^SPX 0.84% (+1.2%) and NDQ (+2.0%) saw gains, with semiconductor stocks and shares of companies like Tesla and Apple seeing increases due to hopes that a reopening in China would boost their performance. Despite equities enjoying another day in the...
FIGURE: GMX BLUEBERRY CLUB MEMBER AND STFX PEPE ATTRACTING RETAIL LIQUIDITY TO THE SLAUGHTERHOUSE UNDER THE GUISE OF EDUCATION In our last issue of DeFi Digest (On Tokenomics), we acknowledged that multiple projects with weak tokenomics have performed well in the past. This points towards the prevalence of narratives driving price action, even nine years after Bitcoin was birthed. Instead of lamenting on this or waiting until fundamentals become consistently...
ANNUAL OUTLOOK RECAP Yesterday, we held our annual outlook call, in which we discussed the carnage of 2022 and reasons to be optimistic about 2023. Below are some highlights, but we invite you to review the entire deck and watch the webinar. BOTTOM IS IN FOR THE MAJORS We think that the majors have seen their absolute cyclical lows. This rationale is supported by (1) the nature, magnitude, and duration...
Traditional markets opened higher despite the headline risk of more layoffs within the tech sector. Google parent company Alphabet announced 12k layoffs, joining Amazon (18k), Microsoft (10k) and Meta (11k). Reflecting the market's confidence in leaner tech's lower OPEX, SPX, QQQ and NDAQ are trading 0.8%, 1.5%, and 0.3% higher than yesterday's close. Digital asset markets are also continuing their leg up after perceiving Bitzlato's money-laundering charges as a no-event on Wednesday...
