Fiona Sincotta

I mean, this is front and central, I think, in a lot of investors' minds at the moment, particularly as soon as we hear the name NVIDIA.

NVIDIA has been investing in firms that are or will be major customers of its products.

So that has raised concerns.

within sort of the markets.

And we've seen that play out in previous weeks where Nvidia really has come under a lot of pressure.

It does feel like that is sort of starting to turn a little bit of a corner.

But I think, you know, longer term, this technology does have a broad use.

And I think that's why over the longer term, this trade is still one that has upside.

Well, crypto, I mean, every Monday I feel I wake up and something else is happening in crypto.

And that fear that there might be a slight reduction in liquidity if that unwinding of the carry trade happens is what I see pulling on crypto.

Institutional demand is still very weak.

You know, we saw November ETFs, they saw outflows of 3.48 billion.

So huge outflows.

I think second largest, second worst month that we've seen so far.

So as you know, crypto is not immune to big price swings and we've had these before.

We're not a stranger to it.

But what's different this time, it seems that there's not been any big crypto event like fraud or something that's very dramatic that's typical to crypto.

It seems like cryptos may be starting to mature in a way and it's starting to follow more the macro environment and starting to behave a bit more like risk assets.

So one of the factors today was sort of the Bank of Japan

which you were talking about before and how that trade is unwinding and people are concerned that there will be less liquidity and of course then less money to spend on riskier assets like crypto.