Lark believes the crypto market is in a state of uncertainty, mainly because there's a lot of conflicting information from various economic indicators and financial institutions.
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He points out that inflation seems to be cooling down, with producer prices (PPI) coming in lower than expected. Lark sees this as potentially "good news for the markets."
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However, there are concerns about a potential recession, with some experts predicting a 40% chance of one starting soon. Lark notes this contradicts the positive inflation data.
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Despite these mixed signals, Lark expects the US economy to keep "grinding forward," with positive GDP growth projected for the next quarter. He states: "The US just keeps not falling on its face."
However, Lark acknowledges that even big banks are uncertain about the future. He mentions Goldman Sachs and Bank of America having opposite views on recession probability.
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For cryptocurrencies, Lark suggests Bitcoin needs to break above $72,000 to confirm a strong upward trend. He notes that institutional interest in Ethereum hasn't been as strong as in Bitcoin so far.
In summary, Lark believes the current state of uncertainty in both the broader economy and crypto markets makes it difficult to predict exact outcomes, but he encourages viewers to stay informed about market developments.
