Interest rates sold off a little bit going into the FOMC this week. Stocks remain strong but Crypto seems to be continuing to weaken. Bitcoin dominance dropped off slightly. Tonight we have Microsoft and google earnings reports coming in. Tomorrow we will have some more interesting information but the actual FOMC meeting won't conclude until after the show. Mando expects some volatility despite the current disconnect between trad markets and crypto.
Do you think we saw a local bottom in these price ranges?
NFTs
It's been an ugly 7 days in NFTs, most things are all in the red. Bored Apes are heading towards 30 ETH, it looks like Machi hit a dump wall. Rektguy saw a move higher, with the Chad founders buying back some of the collection in a recent sweep.
Opensea has been on their deactivation arc again, people are loosing access from their accounts with no direct explanation at all. It might be everyones favorite marketplace but is certainly not decentralized and there will always be regulations and motives coming from certain interests there.
The "Made by Ape" initiative is surfacing and being received very well.
"This is the most bullish case for The Bored Ape Yacht Club" - @farokh
Enabling people and giving people the tools to create business around the IP of their apes is very powerful. Luca Netz, who is considered an IP king in the space, is on record saying any ape under 100k is a steal as entrepreneur. Also, big hype around Apefest in Hong Kong, set to be in November.
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