In This Issue
- I share my thoughts on the state of the market, what the FED said, the power of dollar cost averaging & the Arbitrum airdrop.
- Rekt Capital has the latest technical analysis for you on the market.
- Erik has a report for you on ChatGPT-4 and how to use it for work and investing.
- Defi Dad has a tutorial for you on how to maximize passive yield as an ARB LP on Trader Joe
- 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
Bitcoin is still largely following the risk attitude of broader markets. It along with most assets took a hit on the FED’s announcement today. More on that in a moment.
$28,000 is proving to be a very important area for Bitcoin. As you can see here it was a major area of price support in 2021 and 2022.
This area also is a zone in which about 600,000 Bitcoin have changed hands. Making it a sticky price zone as we could see sellers here who want to get out at break even if they think things are going to get worse.
The S&P 500 continues to hold up rather well, although it is struggling to stay above the 50 day moving average. With so much chaos in the markets and economy it is actually doing better than a lot may have expected. But with recession fears and a banking crisis brewing we could still see volatility here which could reduce a risk on attitude by market participants.
I suppose the big question is “will the FED’s money printing override all other fears and pump markets anyway?”.
Over in Ethereum land something pretty amazing has been happening. Ethereum has been deflationary since January 16th. This means that we have seen an almost 70,000 Ethereum reduction in supply. Good stats for a bear market. And at a fundamental level a very bullish long term catalyst. Now all eyes will be on the Ethereum Shanghai upgrade in about 3 weeks.
What The FED Said
The goal of the FED in its aggressive interest rate hikes over the last year have basically been to break something. And, they finally succeeded. Although I think they had thought it would be the labor markets, in fact they broke the banking system. 2 US banks collapsed and dozens more are on the verge of collapse. Systemically important bank Credit Suisse also collapsed. It was quickly bailed out by Switzerland and taken over by UBS. The impact is global.
A few massively consequential things have happened in the last few weeks.
- Bank Term Funding Program announced that it will allow struggling banks to access liquidity against their US treasury bonds and mortgage backed securities. This also works to ensure that depositors at banks in the USA will be covered beyond what the FDIC can cover. The only way to do this is via money printing. Remember, the FDIC thinks that US banks are missing about 620 billion of customer money sitting in unrealized losses due to the market volatility surrounding bonds and mortgage backed…
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.
