Crypto Markets Forever Stuck? Onchain Data Explained | Michael Nadeau’s Defi Report #2

In this monthly Crypto Fundamentals podcast, Ryan and Michael Nadeau discuss the current state of the crypto market, focusing on Bitcoin's price stagnation, the potential for an altcoin rally, and the overall market cycle phase. They analyze on-chain data, including Bitcoin holder accumulation ratios, long-term holder supply, and illiquid supply, to understand market dynamics and potential investment opportunities. Michael shares his bullish outlook, highlighting the importance of monitoring Fed liquidity and potential rate cuts. The conversation also covers altcoins like Ether and Solana, assessing their fair value using metrics like market value to realized value and fully diluted market cap versus TVL. They explore high-beta assets like Pepe and Athena for leveraging altcoin plays, while also considering the role of crypto equities and potential regulatory impacts, ending with a portfolio review and a preview of upcoming quarterly reports.