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Ithaca Protocol

@ithacaprotocol

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📈Ithaca Protocol Market Update â–ș ⁠Risk asset vols lower; crypto ones exploding â–ș ⁠ ⁠⁠So EF, soy, ' parasitic L2s ' , it was all a matter of Microstrategy vs no Microstrategy for Ethereum â–ș ⁠Dimon calls about ' tariff complacency ' ( and yes with markets higher, probability of escalation going up, market short a call; despite Trump hyping the market with special crypto shoutout ): he even thinks rates will go up, but has been calling it almost correctly for a decade + â–ș ⁠Fed’s Daly calling about 2 rate cuts this year feeling appropriate â–ș ⁠Hype spot on Bybit â–ș ⁠⁠Momentum under pressure in equities â–ș ⁠⁠⁠Grok4?
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Ithaca Protocol
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📈Ithaca Protocol Market Update â–ș yields in retreat and risk appetite in greed territory, tariffs or not â–ș ETH closing the gap since before 12 days war, few more gaps to close â–ș JP Morgan EM FX risk appetite indicators at the highs; also expecting retail buying to proper market further higher by year end â–ș GMX v1 exploit with re entrancy attack â–ș NFTs (??) â–ș NVDA at 4trln$ market cap â–ș ‘ the last 10 years have been the worst for US government bonds in history ’ â–ș US stock market breadth 2nd worst in last 20 years
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📈Ithaca Protocol Market Update â–ș 50% copper tariffs floated ( more than 25% case baseline ) and 200% Pharma ones ‘ in 1.5-2 years ‘ but August 1st deadline slipping already; Korea equities show the melt-up way â–ș Phantom launches perps powered by Hyperliquid ( and not Jupiter ) â–ș Pump.fub full steam ahead with TGE despite BONK season â–ș Curves continue steepening with JGBs in the driving seat again ( rates will spoil the party come August or earlier ) â–ș SBET now owns 200k ETH and BTBT 100k; GAME announced too; when sellers are done this will catch up with even last month’s underperformance
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Ithaca Protocol
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📈Ithaca Protocol Market Update â–ș Coreweave to acquire Core Scientific â–ș ⁠July 9th deadline had effectively become August 1st one; Japan and Korea under pressure but could have been worse â–ș ⁠SEC halts trading of Greyscale digital large cap fund citing classification concerns; trip down Gensler lane â–ș ⁠$PUMP TGE imminent ( now that $BONK forging ahead ?) â–ș ⁠Yields continue bouncing higher and some stock sensitivity reemerging â–ș ⁠Tesla -6.4% post-launch of America Party â–ș ⁠Arkham putting a stop to conspiracy theories regarding the dormant 80,000BTC move
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📈Ithaca Protocol Market Update â–ș Elon’s America Party to embrace Bitcoin; Overwhelming force on a weak point implies pivotal congressional races â–ș Guts of job report suspect; but native born job creation beats foreign born that plays well; July cut offs collapsed, rates sold off â–ș TON Dubai golden visa announcement slightly, just slightly , ambitious â–ș Trump: if we didn’t have the crypto industry, China would ( not answering the question of conflict of interest ) â–ș Lots of culture war headlines over weekend with July 4th inviting them â–ș US market cap as big as China, Europe, India, Japan , Hong Kong ( so much for end of US exceptionalism ) â–ș July 30th ( FOMC ) and August 1st ( ISM / Payrolls ) more than 1% implied SPX move
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Ithaca Spaces: Market Report âšĄïžNow Live on X https://x.com/i/spaces/1LyxBWdZQePKN
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Ithaca Protocol
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📈Ithaca Protocol Market Update â–ș Payrolls higher with U3 lower, dollar bounce faded already â–ș SBET already owning more ETH than EF â–ș Soham Parikh â–ș Spot up / vol up behavior in equities ( chasing upside ) ; we will see that again in ETH again soon â–ș Robinhood’s OpenAI stock isn’t OpenAI stock yet â–ș SOL ETF with staking live
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Ithaca Protocol
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📈Ithaca Protocol Market Update â–ș BlackRock earning more from IBIT than SPX ETF â–șPeter Thiel supporting a new crypto and AI friendly bank application â–ș Blockchain ecosystem companies the evolution of crypto treasuries; too well flagged that they are the main cycle risk ( and that ETH and altcoin bear market related to the absence of ETH in these sweepstakes up to now ) â–ș Payrolls today; post week ADP, whisper number lower but not as low as it may need to be; ' best day of the year ' is now too overbroked â–ș Still ADP / NFP surprise correlation negative! â–ș SPW / SPX discrepancy at highs since November 2008 â–ș Trade deal with Vietnam announced â–ș Rate selloff driven by UK treasury leadership uncertainty post shelving of welfare reform â–ș Coinbase acquiring LiquiFi
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Ithaca Protocol
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Ithaca Protocol
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📈Ithaca Protocol Market Update â–ș Robinhood steals the limelight with their L2 / tokenized shares / perps announcements â–ș ⁠$ weakness, uneventful month-end â–ș ⁠Rates continue rallying, Trump not love letter to Powell calling for lower rates; market has started pricing it already â–ș ⁠Europe accepting 10% tariff with ‘ exceptions ’. This is at least great marketing in terms of negotiation tactics â–ș ⁠Payrolls on Thursday in a half session; only crypto open for few days and volatility feels low â–ș ⁠Tom Lee and ‘ Microstrategy of Ethereum ’ + on chain cash flow ( we are still at levels 15% lower than pre ME events ); screaming cheap
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