Today I’m looking at the Nasdaq futures daily chart – a simple and short view. Nasdaq is still highly correlated with crypto (94% with Ethereum and 78% with Bitcoin from mid-June).
We are very close to an 80-day cycle low in Nasdaq and a rally should be imminent. Notice that the June low was significant, at least a 40-week cycle trough, which means the upward force of this big and relatively new cycle is still present and bullish. Get ready to reposition.
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What started as a minor enforcement action now reads like a farce: hidden fee schemes, missing disclosures, and a CFTC that wants a do-over –minus the refund.
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The departure of Hsiao-Wei Wang leaves the Ethereum Foundation without a permanent co-executive director for the second time this year, as eight senior figures have now left the organization in five months.
The new Fed chair held rates, dropped forward guidance, and delivered a dot plot that reset rate-hike expectations — and in doing so, reminded crypto markets that macro correlation isn't a solved problem.
