What's Happening to Crypto Markets? The Onchain Data That Explains Everything

📣BIT DIGITAL ($BTBT) | ETH-FIRST PUBLIC COMPAN
https://bankless.cc/bit-digital
We’re being compensated by Bit Digital (NASDAQ BTBT) for this segment promoting their company and BTBT. The compensation is paid in cash as a one time payment. You can find

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Is the crypto cycle already over, or is this just a reset before one last push? Michael Nadeau from The DeFi Report joins Ryan to break down why he went 70% cash ahead of the flash crash, what late-cycle data he’s watching, and the signals that would flip him back risk on. We dig into Bitcoin’s 50-week moving average, ETH’s $8–10K scenarios, slowing ETF flows, rising leverage, and whether global liquidity and AI could still drive a melt-up. Michael explains why this cycle has felt muted, what would confirm a top, and how he’s positioning into year-end.

Michael Nadeau & The DeFi Report:
https://x.com/JustDeauIt
https://thedefireport.io/

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💠BIT DIGITAL ($BTBT) | ETH TREASURY
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We’re being compensated by Bit Digital (NASDAQ BTBT) for this segment promoting their company and BTBT. The compensation is paid in cash as a one time payment. You can find additional information about Bit Digital and BTBT on their Investor page at https://bit-digital.com/investors

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TIMESTAMPS & RESOURCES

0:00 Intro

0:48 Crypto Cycle: Is It Over? Mike's Risk-Off Strategy
https://thedefireport.io/research/por...

2:15 Flash Crash Insights

3:14 Crypto Investor Profiles
https://thedefireport.io/

5:40 Understanding Market Cycles https://thedefireport.io/research/cyc...

7:34 Late Cycle Analysis https://thedefireport.io/research/cyc...

12:41 Shifting to Risk Off
https://thedefireport.io/research/por...

18:54 On-Chain Data Insights https://thedefireport.io/research/whe...

21:47 Stages of the Cycle
https://thedefireport.io/research/cyc...

26:12 Wealth Distribution Phase
https://thedefireport.io/research/cyc...

28:15 Realized Profits Comparison https://thedefireport.io/research/cyc...

32:00 Global Liquidity Discussion
https://x.com/RaoulGMI/status/1977140... https://x.com/RaoulGMI/status/1977498...

33:52 Gold vs. Bitcoin
https://x.com/merlijntrader/status/19...

1:01:52 The Shittiest Bull Market Ever
https://x.com/cryptorbion/status/1979...

1:08:31 What Would Change Mike's Mind?
https://www.coinglass.com/bull-market...

1:17:14 Future of the DeFi Report
https://thedefireport.io/research/por...
https://thedefireport.io/

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