Did ETFs Signal Peak Crypto? The broad dissemination of ETFs may have marked the peak of the crypto bull market. What might signal a bottom? It could take about a 90% purge similar to 2018 -- though this time could drag down the stock market and the economy. The chart shows Bitcoin in the red for the year to Nov. 18. What stops the decline? The IBIT Bitcoin ETF is up nearly 10% from its average price since inception in Jan. 2024, compared with QQQ, which is up about 20%. What might change IBIT’s poor performance, especially given that it trades at roughly 2x volatility of QQQ? I fear more year-end sell stops. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/t5vc5vgpfhmz {BI COMD} #Bitcoin #stockmarket @BBGIntelligence(Mike McGlone)