In This Issue
- I share my thoughts on the state of the market, banking crisis, stablecoin update, altcoin alpha & the Myria airdrop.
- Rekt Capital has the latest technical analysis for you on the market.
- Erik has a report for you on Amazon launching NFTs that will be tied to real-world items.
- Defi Dad has a tutorial for you on how to long tokens at a discount with Pendle Finance.
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca has all of the latest news for you.
For any crypto related questions please comment on the website.
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What’s On My Mind by Lark
The State of the Market
Well… things definitely aren’t boring anymore. Crazy to think how bad sentiment was in November for crypto, and how dead crypto was in December. Well, not anymore.
Bitcoin has put in a rather interesting retest of the 2017 all-time high, the 200-day moving average, and the dominant downtrend line… all at the same time! That is not something you will see very often in markets.
One notable thing about Bitcoin pumps in 2023 is that altcoins usually follow pretty close behind. The structure of the market is changing and things are moving more in tandem versus the old days when Bitcoin could have a huge rally all by itself with altcoins moving only weeks later.
The inflation data for February this week has shown another drop in inflation down from 6.4% to 6% now. We continue to trend in the right direction. This is positive for markets. All eyes now are going to be on the FED’s big meeting next week. How will they react to falling bond yields, the banking crisis, and inflation continuing to cool?
The market is betting on the following:
- 0.5% rate hike – near 0% chance
- 0.25% – 60% chance
- 0% rate hike, AKA pausing rate hikes – comes in at a 40% chance.
Banking Crisis
As you are surely well aware 3 banks have collapsed in the last two weeks: Silvergate, Silicon Valley Bank, and Signature. These also happened to be 3 of the most used banks by crypto companies. Signature may be the craziest story because it was not on the brink of collapse it seems, the New York regulators just shut it down because “crypto is toxic”. WTF?
Operation Chokepoint 2.0 which seeks to unbank crypto companies has been moving ahead with apparent success. The White House has been seeking to strangle crypto by making it harder for people to get money into the market by attacking fiat ramps.
Banking stocks have been destroyed this week. Trading was halted for a huge number of US bank stocks with some losing 70% in a single day. European bank stocks are also getting hit badly. Credit Suisse is on the verge of collapse… again…
The question with Credit Suisse is now only, will they be bailed out, because they are too big to fail.
Anyway, that is just a small part of the story, because the big thing is that the FED has said it will backstop ALL money held by depositors in US banks. Where will that money come from? The same place it always does.
Still, though, this is pretty massive what is happening. The FED is basically…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
