June Market Update 🔑
Goldilocks Zone & NFT Carnage
It finally happened, the Fed pivoted to a pause on rate hikes. Once the Fed pivots it is unlikely they resume their previous course. The period from the pause to when they start lowering rates is usually a very good one for risk assets. Furthermore, global central bank liquidity is already rebounding and will drive the next cyclical rally over the next several years (with a potential correction along the way). Despite the summer doldrums, markets are moving higher and inflation keeps collapsing. Crypto is performing well on the back of new institutional interest and likely Bitcoin Spot ETF approval while NFTs continue to make new lows. The only thing that may stop the bleeding is if Blur concludes their Season 2 incentive program. I believe that is the primary mechanism driving prices lower. Other than the relentless degradation of prices for NFTs, things are very quiet.
My top investment ideas are CloneX, Mutant Ape Yacht Club, Checks, Opepen, Otherside, RTFKT Animus Egg, Ethereum, Bitcoin, and ARKK.
RTFKT is expected to release new information for MNLTHX and Animus this month.
Otherside is expected to launch Legends of the Mara this month.
Bored Ape Yacht Club’s HV - MTL mini-game just launched.
Moonbirds Mythics launch this month.
The next investment idea will be out soon. If you haven’t already, please upgrade your subscription now to receive it when it is published.
To the moon and beyond,
Andrew
Disclaimer
The content of this letter is for informational and entertainment purposes, and should not be construed as personal investment advice.