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

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Why This Crypto Cycle is Over | Michael Nadeau's DeFi Report #7

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Why This Bull Felt Muted and ‘Stock-Pickers’ Market

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