ISM correlation to Bitcoin
I find this correlation fascinating.
All 3 past Bitcoin cycle tops have broadly aligned with this monthly, oscillating index.
Based on what the ISM alone is showing, it looks like a cycle top could be mid-2026. This would be contrary to what most are expecting.
Could following it mean we miss the top, or catch the actual top better? No one has that answer.
I'm going to add this to the basket of metrics I keep an eye on for determining a BTC cycle top. I wouldn't rely on it alone, but I would consider it as part of the big picture.
I think Raoul Pal first spotted this, so he gets full credit. I do agree that it's very interesting.
The gold miner bull market is broadening:
Currently, 100% of gold miner stocks in the NYSE Arca Gold Miners Index are trading above their 200-day moving average.
This matches previous peaks seen during the 2020 pandemic and in 2016.
This year, the Gold Miners Index has rallied +123%, putting it on track for its best annual performance this century.
As a result, the index’s performance relative to the S&P 500 has surged to its highest level since 2020.
Gold miner stocks are experiencing a historic run.
ETH Leaves Exchanges, Creating a Historic Supply Squeeze 🚀
For the first time in history, the amount of ETH leaving exchanges has surpassed their ability to accumulate it.
Whether you look at Netflow in ETH or in USD value, the data shows that in recent months, billions of dollars’ worth of ETH have flowed out of exchanges.
What really stands out is the Exchange Flux Balance – which tracks the cumulative Netflow of exchanges:
High values indicate that exchanges are building up reserves, with inflows outweighing outflows.
Low (or negative) values indicate that exchanges aren’t able to accumulate enough, creating a supply squeeze.
And now, for the first time ever, this indicator has turned negative, signaling massive institutional and public demand for ETH.
In short, ETH is experiencing the strongest market maker interest in its history – a setup that could heat up the market soon. 🔥
🔗https://t.co/6vcYmhRfcp
THREE WHALE ADDRESSES JUST BOUGHT $280M OF ETH
Three new whale addresses have just purchased a combined $279.5M of ETH in the past 24 hours.
Arkham’s AI predicts these all as Bitmine. Is Tom Lee buying EVEN MORE?
Addresses:
0x8dBf95DAa0710Ee70127C8099d10Ca68132206D4
0x0CBACFaecC720c65fEc3e9D5B536AD4C0895D8b7
0xcDda5d6861989874639fc92CEa923b2e80E02F69
🇺🇸 BREAKING: The House has voted 217-212 to advance the rule setting up floor votes on crypto legislation after nearly 10 hours of delay, paving the way for final passage votes on major digital asset bills.
We're expanding the Pangea mission 🔥
Become Pangean by joining our Zealy campaign via the link below and let's make crypto great 🔗
https://t.co/VkKHjcgRns