Alpha Zone
My Reading List
Log in
DeFiGaming & MetaverseInfrastructureMarketsNFTs
NFTs and the Macro Winter
Aurelie Barthere


In this note, we analyze the recent developments in the rapidly shifting macro environment and the implications for crypto as an asset class. We also assess the out-of-sample performance of our NFT sentiment indicator, created in a prior note.


  • Global growth has entered a sharp slowdown phase, mainly due to global central banks turning more hawkish.
  • In the US, inflation remains the top worry for the Fed. This will change if and when the US economy converges with the rest of the world and weakens: this could occur via global financial market contagion (from Wall Street to Main Street)
  • “Early” signs to watch for a more crypto-favorable macro...