NUGGETS OF ALPHA
Adam Black, Blockstream CEO, bets Bitcoin will hit $100K before the halving
The supply of BTC that has been dormant for more than a year is at an ATH
Gold is up 15% YTD, but remember that money debases at 14%
Global liquidity added 50 billion last week and another 100 billion this week
BTC saw $133 million in inflows, ETH $31 million, and SOL received $4.3M
Bitcoin is up 50% over 90 days, and Nasdaq is up 3%
The U.S. job openings are cratering right now, which is odd during the holiday season. Last summer, many economists were engaged in a consequential debate about whether inflation might come down without a massive spike in joblessness.
Well, it does not appear that way. Remember, the government data is extremely laggy and will get worse before it gets better.
Another sign of weakening consumer demand is the declining manufacturing data.
U.S. factory orders fell 3.6% last month, marking the most significant monthly drop since April 2020. Over the last year, factory orders are now down 2.1%, the biggest drop since September 2020. Core factory orders also dropped 2.2% YoY for the 8th month in a row of annual declines.
Things are not looking good on the economic side going into a presidential election. They will need to pump this market up, which starts with liquidity.
This is a big week for unlocks: APT, WLD, IMX, BLUR, FIL, MEME, and GMT are the big hitters, so watch out!
Last week, only a select few cryptos beat Bitcoin: DOGE, NEAR, STX, and ORDI.
BTC +17.41%
ETH +12.2%
SOL +11.24%
AVAX +17.18%
DOGE +19.6%
And it looks like the meme coin season is back in play, which is kind of crazy.
Bitcoin this year added half a trillion in value, which means your net worth
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