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Ghosts of Cycles Past - The Early Innings of a New Cycle?
...recover to prior cycle highs and three years all in all for price to go from its cycle bottom to a new...cycle top....recovery to the previous cycle high (Q4 2024)....at play – the business cycle....Each of the last three business cycles has been an excellent predictor of crypto market cycles, and we...
35 Min
Macro & Markets
Aug 2023
Charting Crypto Cycles
Last cycle, this was NFTs....Last cycle, even the majors drew down over -70%....Unlike previous cycles, where individual enthusiasts and crypto natives dominated, the 2021 cycle saw...of crypto cycles past....Breaking The Mold We believe there is a good chance this cycle will continue deviating from prior cycles...
17 Min
Macro & Markets
Mar 2024
Eerie Cycle Similarities
BTC continues to track the trend of its last cycle drawdown, including its recent recovery....were also characterized by shifts in macro sentiment, specifically bottoms in the global liquidity cycle..., the crypto market’s December 2018 bottom also coincided with the Fed’s last rate hike of the past cycle...
1 Min
Macro & Markets
Mar 2023
The Four-Year Cycle Isn’t Dead
cycle – only to be proven that once again, it remains intact....Historically, each cycle has followed a distinct four-phase arc....Liquidity Cycles and Macro Overlays The 4-year cycle has always been more than just a function of Bitcoin...The 4 year cycle 2....market year hasn’t derailed the Halving Cycles Theory one bit.
7 Min
Macro & Markets
Jul 2025
Understanding Crypto Market Cycles (Presentation)
Delphi Co-founder & Head of Research, Kevin Kelly, walks through the key drivers of crypto market cycles...Delphi Co-founder Kevin Kelly walks through the key drivers of crypto market cycles and what's important...Kevin Kelly walks through the key drivers of crypto market cycles and what’s important to pay attention...
39 Min
Macro & Markets
Nov 2023
PUMP revenue to repeat 2024 cycle?
if u look at $PUMP 2024 revenues there was an obvious cool off into eo Q3, but volume (and revenue)...
1 Min
DeFi
Sep 2025
Crypto Market Cycles - Where Are We Now?
Hopped on the Stacks podcast to give a rundown of crypto market cycles, liquidity, the bitcoin halving...Where do you think we are in this current cycle?
1 Min
Macro & Markets
Apr 2024
Short-Sellers Beware: The Inescapable Cycle of Punishment
Last year, short-sellers reaped significant rewards in the market; however, this trend has shifted. Historically, over extended periods, taking long positions has proven more rewarding across various...
1 Min
Macro & Markets
Apr 2023
Crypto Market Cycles - What Lies Ahead
...have been chaotic, but those who’ve been following our research know we’ve been gearing up for a new cycle...There’s still a lot of chatter about what really drives crypto market cycles, so much so that I decided...
1 Min
Macro & Markets
Nov 2023
Crypto Market Cycles Aren't Coincidence - They're Predictable
Because crypto market cycles are tied to bigger macro cycles....Price bottoms 1yr after cycle top Takes ~2yrs to fully recover to prior cycle highs BTC rallies for...Each of these cycles typically lasts ~4 years – and each of these cycles have lined up almost perfectly...with cyclical changes in the business cycle.
5 Min
Macro & Markets
Aug 2023
Bitcoin's Death Cross - Another Ghost From Cycles Past
It’s that time of the cycle again, when the initial hype of a recovery rally fades and the hopes of an...have it, BTC also experienced a similar bearish crossover at almost the exact same point it did last cycle...For context, here’s where both experienced infamous death crosses in their respective cycles.
2 Min
Macro & Markets
Sep 2023
Friktion: Building DeFi Portfolios to Perform Across Market Cycles
...assets and asset classes, you can’t really have a proper portfolio that will survive across market cycles...Structured products, which are vol driven, have a lot more capability to withstand these cycles. 45:22...We’ve been through cycles of leveraging and deleveraging in crypto, and just giving ourselves beta to...
Structured Products
May 2022
Where Are We at in the Cycle? Some Quick Thoughts and Important Context
There’s a lot of chatter on CT right now about where we are at in the cycle....While price is just now bouncing off cycle lows, market caps are in the neighborhood of all-time high...
2 Min
Macro & Markets
Mar 2024
Was That The Top? Ruminations on the Alleged DeFi Bubble
ICO boom was only the most extreme example of this, but crypto’s history is dotted with boom and bust cycles...step back to fundamentally understand DeFi’s long-term thesis, yield farming, and where we are in the cycle...
9 Min
DeFi
Sep 2020
Bitcoin Outlook Jan. 2021
On-chain analysis, market indicators, and cycle comparisons to understand the current state of Bitcoin...
Spot Exchange
Jan 2021
The Bitcoin Bull Case: 2021 & Beyond
This month’s Bitcoin Outlook is jam packed with on-chain data, market cycle forecasts, a breakdown of...Market cycle forecasts leveraging UTXO analysis, institutional demand, and a conducive macro backdrop...
1 Min
DeFi
Dec 2020
Gains Network Gains Ground
Arbitrum-native projects such as GMX have outperformed during the bear cycle and rekindled the spirit...
11 Min
Perpetual Futures
Feb 2023