What to do after a Tornado?
3 min read

What to do after a Tornado?

Cryptic ball: pace yourself.

The weekend is here and ether ended Friday with an attempt to break out above the symbolical $2k level, while bitcoin failed to break $25k again. Still, I remain bullish for the week ahead, even if the weekend may hopefully be boring. Why?

  • The peak inflation narrative is gaining steam, as in July prices slightly decreased in comparison to June. While this was a minor change, asset prices are driven by hope and fear, and until inflation picks up hope will win.
  • Piggybacking on top of this momentum, US equities ended Friday on a very high note, closing the fourth straight week of gains. The S&P 500 is even touching a key former support level, now turned resistance!
  • If it rises above it this August, it could provide even further relief to risk assets during the rest of the year. But remember not all tech stonks or crypto alts have another bullish narrative, like Ethereum's Merge, to keep them going for long.
  • As today's tweet tip warns, bulls are getting quite excited. I'm hoping that the November midterm elections in the US can provide some good news for the market, as bulls aren't the biggest fans of the Democrat's economic policies.
  • Until then, a lot can happen and we'll get more clues during this month's Jackson Hole central banksters symposium and in September's FOMC meeting. Before those, I at least expect ETH and related alts to continue pumping.

I'll be back Monday to dive deeper on the aftermath of the Tornado Cash ban. Many are reporting being banned from using various DeFi tools (or at least their popular front-ends) after having been dusted with proceeds from Tornado!

Chart art: share first aid.

This is the price of the CPI basket. In July it slightly decreased from June, the first time in more than one year. Inflation expectations for 2023 and 2025 have also decreased significantly.

Three things: check the TV.

Tweet tip: remain calm.

Michael Burry, of the Big Short fame, deletes his tweets shortly after posting them. But click on the image to find a back-up account!
Michael is a permabear. He may be right in the end, but he needs to tout his own horn or else he risks getting liquidated by the permabulls! So take this with a pinch of salt

Meme moment: turn on the radio.

TTD 58750000000000000000000!

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Our newsletter offers opinions and insights from analysts in the cryptoasset space. It is not intended to be investment advice, and should not be treated as such. You must not rely on its information as an alternative to financial advice from a qualified professional. Without prejudice, we do not undertake or guarantee that its information is correct, complete or non-misleading; or that the use of the guidance in the report will lead to any particular outcome or result.