Bankless Nation, we have a crypto fundamentals episode for you today. I've got Michael Nato on today's

episode. We're going to talk about the big question that's in my mind, your mind, Mike,

I think in a lot of crypto investors' mind. Is the top in? Is the top in is the question.

We got this pullback in September and it didn't

feel good. I know September is downtember, but still, it's like not fun to get that kind of a

pullback. Bitcoin has seemed stuck in the 110s for the longest time. Momentum seems to be slowing with some of our majors. We had this

alt-coin rally, and it kind of petered out, and now we're going the other direction. We've got

crypto influencers calling the cycle top, and there's just some general anxiety in the space right now. So, Mike, I'm hoping you

can guide us through it today. Yeah, no, thanks for having me, Ryan. I think sentiment is, I think,

people are a little nervous going into this kind of recent sell-off. It seems like there's a lot of

people out there that are sort of looking, looking for the top, which typically doesn't

coincide with tops. But I do see a lot of sort of people a little antsy out there. So hopefully

we can kind of go through some data, hopefully maybe put some people at ease as we move through

the episode today. That's what you and I do, Mike, on these monthly episodes. So as a reminder

for folks that are new to this,

Mike and I put out a crypto fundamentals episode where we look at a lot of the on-chain data to guide analysis. It could be a particular project. Oftentimes, it's just where we are in the cycle.

And today we're going to talk about the big question, is the top in, or do we still have some more

time? All right, Mike, as we're looking at the prices

right now, this is, we're recording this on September 29th, so it's Monday, had kind of a bad

Friday, and then a not great weekend. We have had some recovery right now. So at the time

of recording, Bitcoin is 114K almost, So that's up from the 110 it was. And Ethereum is above 4K,

which feels kind of nice. Can we just recap where we've been over the summer? So in your post,

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