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Amol
@0xamol
May 1st, 2024 Market update 'It's gonna be a big week' -Barry Silbert Macro wise: - FOMC / Rate Decision - JOLTs & ISM data - QRA positive
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Amol
@0xamol
Won't speak on macro too much as I'm not an expert. But imo - rate cuts delayed, inflation slightly uptick, election year, markets elevated but near-term pricing in pullback, liquidity risks, etc. Most moderate risks have been priced in. What's not priced in: Rate hikes, war escalation, credit event, etc.
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Amol
@0xamol
Spoke about this beginning of April. $45k - 52k is a good area for a sharp clean-up on BTC.
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Amol
@0xamol
I'd say clean-up on BTC via 3mo basis is close to done. So I'd say sharp drop scenario into mid-40s to low 50s lines up perfectly.
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Amol
@0xamol
Understated risk building in market is Eigenlayer: VC's invest in EigenLayer at <500M valuation. Get tokens early. Eigen now at > $5B valuation. How can market absorb such high selling?
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Amol
@0xamol
ETH possibly coming into a good r:r area also with strong tailwinds - ETH ETF (when, not if) - Larry Fink + Blackrock ETH fund - Dencun upgrade - L3 (Degen) challenging L1s - Strength in ecosystem resilience I'd be giga bullish on ETH @ 2500s, if we get it. And higher beta bets in Degen, imo. Don't care much for L2s.
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Amol
@0xamol
Underrated assets I continue to buy and add: NEAR, SOL, Degen
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Amol
@0xamol
All in all: I am bullish on this pullback. Though we may have another 1-2 weeks of bleeding. I expect strong assets to bounce back faster than those with weaker narratives, large holders selling, bad tokenomics, etc.
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wake
@wake.eth
Solid take. 420 $DEGEN
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