Where Do We Go From Here? | Michael Nadeau

The podcast explores the current crypto market downturn and future investment strategies, questioning whether the market has reached its macro low. Michael Nadeau shares his analysis, pointing out the over-leveraged market structure and disagreeing narratives as reasons for his risk-off stance since October. He highlights the potential impact of the new Fed chair, Kevin Warsh, and his policies on reducing the Fed balance sheet. Nadeau suggests monitoring metrics like market value to realized value, long-term holder behavior, and the 200-week moving average to gauge cycle awareness, while cautioning about a possible recession. Despite the current bearish outlook, both hosts remain long-term bulls, anticipating Bitcoin to reach over a million dollars.