Risk off asset...until it’s not

It seems to me that the case for crypto being traded, and beholden, by the big boys who sway the markets is pretty undeniable. Hodlers don’t really have any impact. The Reddit communities posting memes saying “Please don’t sell at x price” is funny.

The case I’d like to present is the following: Crypto and Wall Street have seen declines. Wall Street may have a tough time re-gaining traction as companies are still valued at pretty obscene levels. Crypto otoh has no such metric to say it’s “overvalued” besides a chart and an arbitrary line dancing across it. If the losses crypto has encountered is because of the tradfi types believing that it’s a super risky ‘asset’, could it not be the case that if inflation continues increasing, and the economy is unable to avoid recession, and therefore companies really look terrible on paper, that the “big boys who sway the market” could see crypto as the ‘safest’ place to go long with? It honestly seems to me that the prevailing notion that crypto won’t go up as long as Wall Street is risk off doesn’t make sense.

—Macro outlook could actually be a catalyst for a renewed crypto bull market, not a death knell

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