- The Hoot
- Posts
- The 74th Hoot
GOOD MORNING. WE ARE CAFFEINATED AND READY FOR ACTION ☕️
IF YOU TOLD ME 10 YEARS AGO THAT THE ECONOMY WOULD BE CELEBRATING OVER A 3.4% INFLATION PRINT…
I’D HAVE POLITELY ASKED YOU HOW MANY BEERS YOU’D HAD.
Scatt's Weekly Seeds:
🌱Where are We in the Crypto Cycle? 🔄
🌱Kitty Sparks Crypto Rally? 🤔
🌱BIG Bitcoin Buyers Have Arrived 👀
🌱Bitcoin vs. Gold ⭐️
Meme of The Week
Year-to-Date Returns:
Dow: 6.07%
S&P 500: 11.57%
Nasdaq Comp: 12.05%
Bitcoin: 62.30%
Ethereum: 37.21%
Solana: 72.52%
News Breakdown:
Crypto Market:
7-DAY CRYPTO MARKET CAP CHANGE: $16B
CRYPTO INVESTMENT PRODUCT FLOW: $130M
CRYPTO VCs ARE TURNING BACK TO CRYPTO STARTUPS FOUNDED BY PROFESSORS
CHINA BUSTS $295M UNDERGROUND BANK THAT USED CRYPTO TO CONVERT FOREIGN CURRENCIES
BTC MINERS SEE SHARP DROP IN REVENUE DUE TO LOWER TOKEN REWARDS
WISCONSIN BECOMES FIRST STATE TO DISCLOSE BITCOIN INVESTMENT
RETAIL TRADERS SAT OUT ON THE RECENT BITCOIN RALLY
VANGUARD NAMES BITCOIN FRIENDLY EX-BLACKROCK EXEC AS CEO
WORLD’S LARGEST FUTURES EXCHANGE CME GROUP IS LAUNCHING BITCOIN SPOT TRADING
Credit & Debt Markets:
10-YR TREASURY YIELD: 4.446%
CHINA TO MEET TO DISCUSS A $138B ULTRA-LONG DEBT SALE
ICBC TO ISSUE A $4.15B TLAC BONDS IN FIRST ISSUANCE BY CHINESE BANK
BLACKSTONE, ARES + BLUE OWL TO PROVIDE $2.7B TO HELP FINANE PERMIRA ACQUISITION
KKR + APOLLO PROVIDING $1B DIRECT LOAN TO ASC SOLUTIONS
NYCB WILL SELL $5B OF LOANS TO JPM TO FREE UP CASH
This Week’s Economic Calendar:
NVIDIA Q1 Earnings (Wednesday)
Existing Home Sales (Wednesday)
Fed Meeting Minutes (Wednesday)
New Home Sales (Thursday)
Total of 18 Fed Speaker events this week
Where are We in the Crypto Cycle? 🔄
For those unfamiliar, it can be hard to gauge.
‘Conservative’ crypto investors generally flock to Bitcoin & Tether (USDT) for safety.
A key indicator suggests near identical timing to the last boom cycle. See the below chart for reference…
Shoutout to @MaxBecauseBitcoin for the chart work 🫡
Bitcoin might fuel the initially rally, but alt coins (smaller coins) will steal the show.
Patience is key.
The massive altcoin surge is imminent.
Kitty Sparks Crypto Rally? 🤔
Not a word said.
The highly successful investor and internet streamer ‘Roaring Kitty’ who was famous for turning $50k into $48mil recently spoke out..
From his silence since June 2021.
Well, all he posted was someone sitting in a chair who leaned forward. No words attached.
The result?
$1.2 billion in liquidations (losses) between stocks GameStop and AMC.
The coin GME (GameStop’s ticker in real life) on Solana who somebody randomly created went and surged in the region of 250,000% in a day.
Could this guy bring meme season back entirely on his own?
Yes.
BIG Bitcoin Buyers Have Arrived 👀
The big boys have arrived to the party.
I’ve been saying this on the newsletter for years now… you had a period of time to FRONT RUN institutional money.
That window has now passed. You failed.
13 of the 25 largest U.S. hedge funds bought Bitcoin ETFs in the first quarter.
Pointy, the $34bn fund owned by New York Mets owner Steven Cohen, holds $77.5m of Fidelity’s Bitcoin ETF.
AND…
The $64bn hedge fund giant Millenium bought $2bn worth of ETFs (a 3% total fund allocation) last week.
Are you still scared/nervous/sitting on the fence now?
Bitcoin vs. Gold ⭐️
Bitcoin vs. Gold (round #too many).
As of May 15, it is official that 937 financial firms disclosed spot Bitcoin ETF holdings in Q1 of 2024.
Compare this to when gold first launched its ETF who had only 95 firms invested in its first quarter.
10 times the amount of institutional investors in the first quarter?
So does that mean it’s going to be 10 times bigger than gold?
What happens to the price then?
Crypto Cold Storage Options:
Check us out on👇🏼:
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy, sell or hold any assets or to make any financial decisions. Please be careful and do your own research.