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

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 $8–10K scenarios, slowing ETF flows, rising leverage, and whether global liquidity and AI could still drive a melt-up. Michael explains why this cycle has felt muted, what would confirm a top, and how he’s positioning into year-end. Michael Nadeau & The DeFi Report: https://x.com/JustDeauIt https://thedefireport.io/ ------ 📣BIT DIGITAL ($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 ------ BANKLESS SPONSOR TOOLS: 🪙FRAXNET | MINT, REDEEM, EARN https://bankless.cc/fraxnet 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR L2 NETWORK https://bankless.cc/Mantle 🌳KGEN | REQUEST A DEMO https://bankless.cc/KGEN-podcast 💠BIT DIGITAL ($BTBT) | ETH TREASURY 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 additional information about Bit Digital and BTBT on their Investor page at https://bit-digital.com/investors ------ TIMESTAMPS & RESOURCES 0:00 Intro 0:48 Crypto Cycle: Is It Over? Mike's Risk-Off Strategy https://thedefireport.io/research/portfolio-update 2:15 Flash Crash Insights 3:14 Crypto Investor Profiles https://thedefireport.io/ 5:40 Understanding Market Cycles https://thedefireport.io/research/cycle-awareness-update#fear-greed-index 7:34 Late Cycle Analysis https://thedefireport.io/research/cycle-awareness-update#fear-greed-index 12:41 Shifting to Risk Off https://thedefireport.io/research/portfolio-update 18:54 On-Chain Data Insights https://thedefireport.io/research/where-might-eth-top#scenario-analysis-for-eth 21:47 Stages of the Cycle https://thedefireport.io/research/cycle-awareness-update#fear-greed-index 26:12 Wealth Distribution Phase https://thedefireport.io/research/cycle-awareness-update#fear-greed-index 28:15 Realized Profits Comparison https://thedefireport.io/research/cycle-awareness-update#fear-greed-index 32:00 Global Liquidity Discussion https://x.com/RaoulGMI/status/1977140156386660654 https://x.com/RaoulGMI/status/1977498706510487748 33:52 Gold vs. Bitcoin https://x.com/merlijntrader/status/1978793051062509966 1:01:52 The Shittiest Bull Market Ever https://x.com/cryptorbion/status/1979614717707489461 1:08:31 What Would Change Mike's Mind? https://www.coinglass.com/bull-market-peak-signals 1:17:14 Future of the DeFi Report https://thedefireport.io/research/portfolio-update https://thedefireport.io/ ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures