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May 22, 2023
The Debt Ceiling Circus Rages On

With less than a month remaining until the upcoming FOMC meeting, a series of speeches by Federal Reserve officials strongly indicated a persistent...

May 15, 2023
Regulatory Jitters

US CPI data released last week continues to show a deflationary trend. Real-time CPI estimates also suggest the potential for a sub 2% inflation print...

May 8, 2023
The Ordinal Menagerie

As expected, rates were lifted another 25bp at last week’s FOMC meeting. Chairman Powell’s leading statement touched on the banking system being sound...

May 1, 2023
Another Bank Failure

The Fed is expected to raise rates by 25bp this week, with probabilities indicating that this will likely be the last hike before entering a "higher...

April 24, 2023
Rates, Reserves, Repayment, and Regulation

Earnings season is in full swing, with most S&P 500 companies set to report earnings over the next two weeks. Despite the S&P 500's unexciting...

April 17, 2023
Liquid Once Again

The Shapella network upgrade for Ethereum, a combination of Shanghai and Capella, was successfully implemented last week. All staked ETH, which was previously locked on the Beacon chain, has the ability to join the exit queue and become fully liquid once again, if desired....

April 10, 2023
To Stake, or Not to Stake, That is the Question

This week’s major macro events are the release of March CPI data and bank earnings. Currently, CPI estimates are around 5.2% YoY, lower than the 6.0%...

April 3, 2023
Positive Momentum Into Q2

Another quarter comes to a close and in true form, Bitcoin saw dramatic quarter-over-quarter price movement. Historically, the relative price action ...

March 27, 2023
Exchanges Face Regulatory Scrutiny

Last week, the Fed raised rates by 25 basis points, bringing the Fed funds rate above both the Truflation real-time inflation estimation and the Fed's...

March 20, 2023
Banking Sector Turbulence Continues

On Wednesday, the FOMC is set to potentially hike another 25bp after a tumultuous past few weeks that have led to a US regional banking crisis. Long...

March 13, 2023
Digital Assets Shine During Banking Uncertainty

Nearly a year after the fastest Fed hiking cycle in history, cracks in the ecosystem started to emerge quickly at the end of last week. Silicon Valley......

March 6, 2023
Bitcoin On-Chain Use Cases Grow

Over the past few weeks, rate expectations have continued to progressively increase following a series of strong economic data and hotter than expected...

February 27, 2023
Choppy Waters as Markets Wait for a Wave

Potential macro headwinds continue to dominate conversations in relation to risk assets. Strong economic data and a leveling off of inflation may move...

February 21, 2023
Long Arm of The Law

More regulatory news came from the SEC last week, which some view as progress towards additional regulatory clarity for digital assets while others have...

February 13, 2023
Regulatory Roundup

Regulatory enforcement actions for retail staking platforms and stablecoin issuers in the digital asset environment have ramped up over the past week...

February 6, 2023
On-Chain Activity Heats Up

Bitcoin’s on-chain activity has picked up in recent weeks, thanks to growing utility in emerging markets and the rise of NFT novelty. Both transactions...

January 30, 2023
Tailwinds Blowing

Bitcoin will likely close at least +40% on the month, a rare feat for January, historically. This will also likely be Bitcoin’s strongest monthly performance since late 2020. Longer term Bitcoin monthly...

January 23, 2023
Green Shoots

Bitcoin is now +37% YTD, outperforming the S&P 500 by a factor of 10x. Now with both the FTX debacle and tax loss harvesting in the rearview, sentiment...