Bankless Was That the Top? Bitcoin, ETH, & Q4 Setup | Michael Nadeau's DeFi Report #6
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Sep 30, 2025 
Michael Nadeau, founder of The DeFi Report and crypto researcher, joins to dissect the latest trends in Bitcoin and Ethereum. He explores whether we’ve hit a cycle top, discussing Bitcoin’s crucial price levels and Ethereum’s $4K resistance. Nadeau highlights the impact of a recent liquidation event on the market and the potential for a Q4 rally. With insights on altcoin dynamics and the liquidity landscape, he provides a roadmap for navigating the upcoming months and identifies where fresh capital could emerge.
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Summer Rotation Into ETH And Large Alts
- The summer was a rotation from BTC to ETH and then into large-cap altcoins, a
Liquidation Cleansed Excess Leverage
- A massive futures liquidation in ETH cleared leverage and reset funding rates negative.
Don't Declare The Top Without Data
- Do not assume the cycle top is in; monitor structure and data rather than panic narratives.