Will Crypto Peak in 2025 or 2026? Onchain Data Signals | Michael Nadeau’s DeFi Report #5

Listen to this episode from Bankless on Spotify. Crypto cycles have always topped on a four-year rhythm, but are we heading for a Q4 2025 peak or an extended run into 2026?Michael Nadeau from The DeFi Report joins Ryan to break down the onchain and macro signals shaping this cycle. We cover Powell’s dovish pivot at Jackson Hole, global liquidity trends, and why loosening bank lending standards could fuel risk-on markets. Michael explains how whale Bitcoin selling, ETH’s breakout, and muted altcoin flows fit into the bigger cycle map. Finally, we dive into portfolio strategy, from core holdings to high-beta “hot sauce” bets, and why holding fewer, higher-conviction assets is the edge most investors miss.Michael Nadeau & The DeFi Report:https://x.com/JustDeauIthttps://thedefireport.iohttps://thedefireport.io/research/how-many-assets-should-you-hold-in-a-crypto-portfolio#closing-thoughts------📣BIT DIGITAL ($BTBT) | ETH-FIRST PUBLIC COMPANYhttp://bit-digital.com------BANKLESS SPONSOR TOOLS:🪙FRAX | SELF SUFFICIENT DeFihttps://bankless.cc/Frax🦄UNISWAP | SWAP ON UNICHAINhttps://bankless.cc/unichain🛞MANTLE | MODULAR LAYER 2 NETWORKhttps://bankless.cc/Mantle------TIMESTAMPS0:00 Intro3:01 Global Liquidity Insights6:44 Market Valuations Discussion9:53 Lending Standards & Bank Activity11:49 Powell's Impact on Markets15:34 Inflation and Market Psychology17:38 Bitcoin Fear and Greed Index18:58 Long-term vs Short-term Holders22:45 Realized Price vs Market Value26:34 Altcoin Market Dynamics31:19 Extended Cycle vs Classic Cycle35:06 Portfolio Construction Strategies39:27 Core vs Non-Core Asset Holdings43:10 High Beta Assets Explained45:54 Cash Allocation Strategies54:05 Upcoming Research and Reports------Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures