In this Bankless podcast episode, host Ryan speaks with Michael Nadeau about the state of the crypto market and whether the top of the current cycle is in. Michael believes the top is not in, citing on-chain data, market structure, and macro economic conditions. They discuss the recent mini altcoin season, Bitcoin dominance, and the potential for a Bitcoin-led rally before another rotation into altcoins. Michael emphasizes the importance of new capital entering the market and highlights key levels to watch for Bitcoin and Ethereum. They also touch on the impact of global liquidity, the Treasury General Account, and the Federal Reserve's rate cuts. Michael shares his portfolio adjustments and expresses optimism for Q4, anticipating further strength in the crypto markets.
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