In This Issue
- I share my thoughts on the state of the market, market paranoia, FTX buys Voyager, Robinhood teams up with Polygon, Ooki not okay, Next in trouble & the only way to make money now.
- Rekt Capital has the latest technical analysis for you on the market.
- Sam has a report for you on why CryptoPunks are so expensive.
- Defi Dad has a tutorial for you on how to earn up to 17.4% APY with ATOM liquid staking.
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca has all of the latest news for you.
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What’s On My Mind by Lark
The State of the Market
Well… I wish I had another tune to play, but it is another bad week in markets. Surprise!
Bitcoin has been range bound for the last 10 days. This kind of boring, largely directionless price action is so typical of bear markets. Back in 2018/19 for example we had months of sideways actions. The worry for investors now is that this is the calm before the storm and that prices could still drop further due to macro craziness!
Ethereum is ranging between $1,280 and $1,400. Break down from this range and $1,000 can come real quick. But, an October rally could see us coming back to challenge key areas of resistance.
S&P 500 just bounced off of key support. Curious to see if that starts to develop towards our October rally around these mid-terms.
Bank of England starts buying UK bonds again. This is a move that will likely make inflation last longer, but when the Pound cratered this week the BOE had little choice but to intervene to try and shore up markets. This move could signal a change in policy of central banks as the crisis continues to get out of hand. If the ECB and FED follow suit… it could be the signal we are looking for to call a bottom. But until the FED joins the party, it is too early to celebrate since the USD is the wrecking ball and the fed is driving the machine.
General Paranoia About Markets Now
Bonds Breaking, the bond markets have had a crazy volatile week and year. 12 trillion has been erased from the bond market. The bond market is widely seen as being in a state of chaos right now. This is bad for markets.
Housing Falling, US housing markets are expected to cool by up to 20% in key cities. Overseas markets like here in New Zealand or over in Australia are also facing huge slumps. This lowers home owner equity and diminishes the wealth effect.
Stocks Getting Crushed, at the time of writing the S&P 500 is hanging in the balance. If it falls any further then we lose support and all hell could break loose. Remember people like Ray Dalio are still calling for another 20% down from here.
Rate Hikes are the fuel to the fire of markets now. All of the above is because of the FED’s rate hikes. And we have more hikes to come which will put even more pressure on the markets. A hard landing, AKA pain, is what the FED has created for markets.
Inflation, while inflation is trending down in the USA… for now, the EU and UK are getting rekt hard by inflation as Europe faces a very hard situation with energy prices. While we may still…
