BREAKING: Bitcoin has officially crossed above $1 trillion in market cap for the first time since December 2021.
Since December 2022, Bitcoin has added ~$700 billion in market cap. For the first time since April 2022, the total market cap of crypto is above $2 trillion. Source: Kobeissi Letter, Barchart
In the latest BofA fund managers survey
when asked for the path of the US economy this year, 2/3 of investors say "soft landing," 1/5 say "no landing," 1/10 say "hard landing" (again, guaranteeing a "hard landing")... Source. BofA
JUST IN: Bitcoin ETFs have taken in over $2 BILLION of new funds in just the last 4 days.
Yesterday was the biggest day of inflows since launch day, with $631m! 🚀 Source: Bitcoin Archive
The big crocodile jaw...
No need for energy anymore?
Passive funds have overtaken active.
That’s changed a lot because the number of active managers is down a lot, David Einhorn says in MIB podcast: "There’s entire segments now mostly in the smaller part of the market where there’s literally nobody paying any attention...I view the markets as fundamentally broken". Source: HolgerZ, BofA
What's the craziest Bitcoin chart in the world right now?
Answer: $BTC in Egyptian Pound $EGP ... Source: Erik Dale
Nvidia's red-hot rally to start 2024 has pushed many Wall Street analysts to adjust their targets
at least 5 firms hiking price targets on the artificial intelligence-darling this month. This week, UBS lifted its target to $850 from $580, Mizuho raised its target to $825 from $625. Demand for Nvidia’s H100 AI accelerators continues to outstrip supply, Mizuho’s Vijay Rakesh wrote in a client note, calling the stock the best AI play. Source: Bloomberg, HolgerZ
Another look at yesterday's inflation report by MacroAlf.
This chart shows supercore inflation - a measure of sticky inflationary pressures Powell & Co often refer to: - It slowed down vertically towards ~3% until the end of last year - But since then it has now accelerated rapidly to 5.5%! Source: MacroAlf
